Elon Musk Says He'll Eat A Happy Meal On TV If McDonald's Accepts Dogecoin: Is There Something Cooking?

Elon Musk has done it again. With his Dogecoin DOGE/USD chatter, the Tesla, Inc. TSLA CEO sent the meme currency spiking on Tuesday.

What Happened: Musk expressed his willingness to eat a happy meal on television if fast food chain McDonald's Corporation MCD accepts Doge, the Tesla chief said in a tweet. Happy meal is a kids' meal package offered by the restaurant chain that contains a main item, a side item and a drink.

The tweet has since garnered over 14,000 retweets and about 83,000 likes. Musk's tweet comes days after Tesla began accepting Dogecoin for some of its merchandise.

Musk has made no bones about his preference for the meme currency, therefore the tweet does not come as a surprise. In the Time "Person of The Year" interview in December, he said Doge has a better transactional value than Bitcoin BTC/USD.

Related Link: Is Dogecoin A Good Investment

Why It's Important: Cryptocurrencies have been going through a lean patch ever since most of them peaked in early November.

Doge's travails started even ahead of this period. Doge spiked to an all-time high of $0.737567 ahead of Musk's "Saturday Night Live" appearance on May 8, 2021 and has been languishing ever since.

General improvement in investor sentiment and wider mainstream adoption will likely help the meme currency break out of the lackluster phase. Incidentally, McDonald's sent the crypto community into a frenzy with a late Monday tweet, in which it called for the attention of people running crypto Twitter accounts.

The Doge and Shiba Inu SHIB/USD communities have been making feverish pitches to the fast food chain to accept these cryptos as payment options. The tweets from Musk and McDonald's are implying that something may happen along this direction soon.

Immediately after Musk tweeted, Doge spiked to a high of $0.144532, but the crypto has come off this level since then. At last check, Doge was seen up 8.66% at $0.139700.

Related Link: Tesla-Induced Boost Is Now Nearly Erased: What's Next For Dogecoin