Dogecoin Soars As Elon Musk Rekindles McDonald’s Rumors

Alex Dovbnya

Dogecoin and Shiba Inu have gathered for the highly anticipated Super Bowl ad blitz

Much to the delight of Dogecoin fans, Tesla CEO Elon Musk has added more grist to McDonald’s rumor mill by tweeting the sweatdrop emoji on the fast food giant’s official account.

The billionaire’s response came shortly after McDonald’s began teasing its followers with an announcement that appears to be slated for February 13.

Trader Cantering Clark saw the recent interaction between McDonald’s and Musk as a potentially bullish catalyst for Dogecoin and claimed he was going long on the popular meme coin.

He certainly wasn’t alone. Dogecoin is up nearly 9%, outperforming other major cryptocurrencies as Bitcoin continues to exhibit anemic price action.

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Rival Shiba Inu is also up more than 5% in the last 24 hours.

As reported by U.Today, Musk tweeted that he would eat a McDonald’s Happy Meal if the legendary fast food giant accepted the Dogecoin cryptocurrency.

McDonald’s, which inspired crypto-related memes, urged Tesla to accept Grimacecoin, a made-up cryptocurrency, in return. The reaction inadvertently led to the creation of a new meme coin on the Binance Smart Chain.

Many thought the cheap joke was the end of Musk’s push to get McDonald’s to embrace Dogecoin, but the most recent Twitter exchange could indicate more is on the way.

After the industry boomed in 2021, the cryptocurrency community is now gearing up for a Superbowl ad blitz reminiscent of the peak of the dotcom era.

FTX, Coinbase and other prominent cryptocurrency companies are expected to start airing their ads tomorrow.

Some Dogecoiners are also speculating that the canine cryptocurrency could make an appearance, but co-founder Billy Markus is urging them not to get “pitchforky” if it doesn’t.

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