Dogecoin Gets High On McDonald's Buzz — But Is It Burger King That Really Stole The Show?

Dogecoin DOGE/USD shot up nearly 8% over 24 hours to $0.14 leading up to early Wednesday morning as social media buzz around McDonald Corporation MCD accepting the meme coin continued.

Dogecoin DOGE traded almost 2.5% lower over 24 hours leading up to early Tuesday morning alongside other major altcoins.

Dogecoin, In Numbers:

24-Hour Performance: 7.9%
7-Day Performance: -13.5%
30-Day Performance: -23.45%
YTD Performance: -15.8%

Why It’s Moving? McDonald’s laid out a condition for it accepting DOGE on Tuesday. The restaurant chain said if Tesla Inc TSLA accepts “grimace coin” — a makebelieve coin depicting its mascot Grimace, it would accept DOGE.

McDonald’s attracted high interest from retail investors at press time on Stocktwits, while DOGE was seend trending on CoinMarketCap, a cryptocurrency price tracking website.

Altcoins, as well as Bitcoin, were relatively stable on Tuesday compared with equity markets which declined ahead of a Wednesday press conference by Federal Reserve Chair Jerome Powell.

DOGE is sitting just under a critical level on its chart with bullish traders looking for it to cross the $0.15 mark, according to Benzinga's Tyler Bundy.

Dogecoin Chatter: McDonald’s humorous stance was taken after Musk tweeted that he would eat a happy meal on TV if the latter accepted DOGE. Restaurant Brands International Inc QSR unit Burger King one-upped the rival with a tweet of its own.

only a king knows what da coin do
— Burger King (@BurgerKing) January 25, 2022

Burger King’s stance won it some affection on r/Dogecoin — a Reddit forum that discusses the meme coin.

Reddit user crazycarl36 said “Burger King it is (again).” while another user Firm_Business_8378 said, “For real going to quit eating Mc Donald's over this. Probably the healthiest decision I've made in my life. Buger (sic) King it is.”

Dogecoin-centric Twitter handle Mishaboar reminded his followers of how low DOGE transaction fee would mean that if they paid for 10 items at a fast-food chain for one year with the meme cryptocurrency they would only be paying $2-3 in fee per year.

And shall we remind everyone that #Dogecoin fees are so low that if you were to buy 10 items per day for 1 year with Doge you would be paying only 2-3 USD dollars in fees in one year, at current prices? https://t.co/aK4Qz03gzj
— Mishaboar (@mishaboar) January 25, 2022