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Dogecoin Jumps 8% After Musk Called on McDonald’s to Accept Token as Payment

January 25, 2022
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Dogecoin Jumps 8% After Musk Called on McDonald’s to Accept Token as Payment

Elon Musk’s influence over the price of Dogecoin continues after a Tuesday tweet from Tesla boss, according to a tweet by Elon Musk on Tuesday.

Musk tweeted on Tuesday morning that McDonald’s should accept the meme-crypto coin as a form of payment and further stated that he would eat a happy meal on TV.

Immediately after the tweet, the price of Dogecoin soared nearly 8% to $0.1445. The 10th most valuable cryptocurrency, valued at nearly $18.5 billion, has since lost some of its gains.

Tesla has accepted Dogecoin as a form of payment for some of its products and Bitcoin for some time as a form of payment for its vehicles in 2021.

Musk’s tweet comes following a day after McDonlad’s began to engage with the crypto community through Twitter. The fast-food giant asked how people who run crypto Twitter accounts were doing.

During the weekend, El Salvador President Nayib Bukele posted a tweet of him photoshoped wearing a McDonald’s uniform as bitcoin plunged below $40,000.

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