Dogecoin Acceptance Saga: McDonald’s Come Under Fire for Rejecting Offer to Accept DOGE by Musk
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Behemoth food chain McDonald’s has come under criticism after fumbling a Dogecoin (DOGE) payments request from Tesla CEO Elon Musk.
The world’s richest man recently asked the fast-food chain to accept DOGE and that in return, he would eat its Happy Meal on television.
However, McDonald’s essentially turned down the request after tweeting that it would accept Dogecoin if Tesla accepted “Grimacecoin.” This made-up token got inspired by Grimace, a purple-colored anthropomorphic character that appeared in McDonald’s commercials in the early 1970s. However, this advertisement plot turned out a failure after kids found it too scary.
Interestingly, a few minutes after McDonald’s tweet, a random crypto enthusiast created a token called “Grimacecoin” on Binance Smart Chain, which spiked by a jaw-dropping 261,000% over a few hours before erasing most of its gains.
That said, The DOGE community expressed their disappointment in McDonald’s response, with some noting that the company’s marketing team “took over 10 hours to come up with such an offer.”
Dogecoin co-founder Billy Markus also tweeted that the Grimacecoin tweet was a “textbook example of how to make something fun unfunny.”
Also, self-proclaimed “Dogecoin millionaire” Glauber Contessoto tweeted that the behemoth restaurant just “fumbled an incredible opportunity for a terrible joke.”
Key Dogecoin Levels to Watch — January 26
DOGE continues to maintain a steady decline towards $0.1000. The meme coin recently touched the base of my channel at $0.1200, which triggers a sharp rebound for the cryptocurrency, indicating that this technical line holds critical relevance.
DOGE now coasts above $0.1400 after peaking at the $0.1533 earlier today, as the broader market regained some bullish traction today. I expect a mild bullish continuation over the coming days as the meme coin is not set for a retrace to the line yet and has to, at least, test the $0.1650 resistance.
Meanwhile, my resistance levels are $0.1650, $0.1800, and $0.1900, and my support levels are $0.1400, $0.1300, and $0.1200.
Total Market Capitalization: $1.65 trillion
Dogecoin Market Capitalization: $18.9 billion
Dogecoin Dominance: 1.15%
Market Rank: #11
