Elon Musk and McDonalds Cause Unknown Token to Skyrocket 6,000%

Elon Musk and McDonalds Cause Unknown Token to Skyrocket 6,000%

Elon Musk was again the reason for an unknown token to have a sudden and stratospheric increase in price. But this time, the CEO of Tesla and SpaceX roped in McDonald’s.

Elon Musk, billionaire at large, took to his Twitter on January 25 to say that he would eat a “Happy Meal” on TV if McDonald’s started accepting Dogecoin (DOGE) as a form of payment. This comes after the news that Musk’s mere mention of a grape, sent the GRAPE token sky high.

Dogecoin were quick to respond.

The official profile of Dogecoin shared a meme of the cryptocurrency along with the snacks. Other DOGE enthusiasts also came out in support of the decision. Even Burger King, considered McDonald’s biggest rival, commented on the tweet,

It should be noted that BurgerKing has already carried out promotional actions with Dogecoin before, including in Brazil.

Finally, McDonald’s responded to Musk’s proposal, saying that it would accept DOGE if Tesla started accepting GrimaceCoin as a form of payment.

Elon Musk’s Tweet brings GrimaceCoin to life

McDonald’s response was just a joke, using one of its classic characters to hint that the company would also launch a meme cryptocurrency . However, a token called GrimaceCoin was quickly created on the Binance Smart Chain, with its price soaring 6,000% in just a few hours after interactions between Musk and the fast food chain on Twitter.

The GrimaceCoin asset is not related to McDonalds. Its creators are anonymous and are accused by other users as a being a scam. In addition, each transaction with the token is taxed at 10%, a very high value that generates distrust in the market.

McDonald’s memed relentlessly

McDonald’s interaction with the crypto world began before Elon Musk’s tweet. Several cryptocurrency enthusiasts have memed McDonalds in recent days.

Due to the recent market crashes, many crypto investors started joking that they would have to work at one of the fast food chain’s outlets to recoup their losses.

The official McDonald’s profile joined the fray on Twitter asking how users in the crypto world were doing on Jan. 24. This is the day BTC dropped more than 10%, and altcoins suffered even bigger drops.

Several companies and well-known names in the market, such as Binance, CoinMarketCap, and Michael Saylor responded to the tweet, posting memes related to the company.

The president of El Salvador is at the helm of a country that faces millions in losses from its investment in BTC. He changed his profile picture on Twitter for a meme of him in a McDonald’s uniform.

I guess now we just all wait around for the drama that will come with Elon Musk and his next crypto mention.

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