Yesterday, Elon Musk specifically asked McDonald’s to accept Dogecoin as payment.
I will eat a happy meal on tv if @McDonalds accepts Dogecoin
— Elon Musk (@elonmusk) January 25, 2022
McDonald’s: yes to Dogecoin if Elon Musk accepts grimacecoin
McDonald’s answer was not long in coming: only if Tesla will accept grimacecoin.
— McDonald's (@McDonalds) January 25, 2022
This tweet response has made the price of a token called Grimacecoin soar 285% in a few hours and specifically created after McDonald’s tweet, probably to attract the most clumsy speculators.
In reality, as many as 10 tokens with this name, most likely invented by McDonald’s Social Media Managers, have been created on Binance Smart Chain after the publication of the tweet. This makes it clear both how immature this market still is, and especially how many improvised speculators populate it.
By contrast, the reaction of the DOGE price to Musk’s tweet this time was minimal, so much so that it went almost unnoticed.
Peak of searches for “Happy Meal”
Instead the volume of searches for “Happy Meal” on Google exploded by 186% worldwide a few hours after Elon Musk’s tweet, because Musk still has a lot of visibility. His tweet garnered 365,836 likes and 52,995 retweets.
The discovery of the spike in “Happy Meal” searches was made public by the kitchen equipment experts at Maxima Kitchen Equipment. According to one of their spokespersons, if these searches translate into visits inside McDonald’s stores, it will be interesting to see if the world’s largest fast-food chain will seriously consider accepting Dogecoin. If so, the decision could have an impact on the food industry in general.
Payments with Dogecoin
It is worth mentioning that DOGE actually continues to be little used, especially outside of the more purely speculative realms.
For example, after a peak of nearly 140,000 transactions recorded on Dogecoin’s blockchain on 16 April last year, the volume of daily transactions at the end of 2021 fell below 20,000. For example, that of Bitcoin continues to be perennially above 200,000 transactions per day.
If the comparison is made in dollars, the Dogecoin blockchain trades an average of less than 1 billion dollars per day, while the Bitcoin blockchain has an average of more than 20 times that amount.