Dogecoin popped 8% on Tuesday after Elon Musk said McDonald’s should accept the meme coin.”I will eat a happy meal on tv if McDonalds accepts Dogecoin,” Musk tweeted.On Monday McDonald’s interacted with the crypto community over Twitter amid bitcoin’s decline.Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Elon Musk’s sway over the price of dogecoin continues following a Tuesday tweet from the world’s richest person.
Musk tweeted Tuesday morning that McDonald’s should accept the meme-crypto token as a form of payment, and if they did he would eat a happy meal on TV.
“I will eat a happy meal on tv if @McDonalds accepts Dogecoin,” Musk tweeted. Right after the tweet, the price of dogecoin surged as much as 8% to $0.1445, according to data from CoinMarketCap.
The 10th most valuable cryptocurrency, worth about $18.5 billion, has since pared some of its gains.
Musk’s Tesla accepts dogecoin as a form of payment for some of its merchandise, and temporarily accepted bitcoin as a form of payment for its vehicles last year.
Musk’s tweet comes a day after McDonald’s started to interact with the crypto community via Twitter. The fast-food giant tweeted “how are you doing people who run crypto twitter accounts” amid a sharp sell-off in the crypto market on Monday.
Flipping burgers at McDonald’s is an often-said joke among the crypto community during periods of downside volatility . Over the weekend, El Salvador president Nayib Bukele tweeted a photoshopped picture of him wearing a McDonald’s uniform as bitcoin plummeted below $40,000.
In response to a meme tweeted by Binance on Monday, McDonald’s responded, “wagmi friend,” short for we are gonna make it.
Markets Insider Deal icon An icon in the shape of a lightning bolt. Keep reading
More: MI Exclusive crypto Elon Musk elon Musk crypto Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.