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Dogecoin Rises 8% Following Elon Musk’s McDonald’s Offer

Published 01/30/2023, 06:35 PM
Updated 01/30/2023, 09:45 PM
© Reuters Dogecoin Rises 8% Following Elon Musk’s McDonald’s Offer
DOGE/USD
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  • Elon Musk recently confirmed that he would eat a McDonald’s happy meal on TV.

  • The offer was initially made a year ago and is contingent on McDonald’s enabling Dogecoin payments.

  • Dogecoin gained more than 8% following Musk’s tweet.

Elon Musk’s recent tweets about Dogecoin sent the meme coin soaring once again. The self-described “Dogefather” took to Twitter recently to confirm an offer that he made last year. The offer was simple: Musk would eat a McDonald’s happy meal on TV if McDonald’s starts accepting Dogecoin.

The offer was initially made in January 2022. At the time, DOGE was trading at $0.13, but Musk’s McDonald’s offer led to a 15% increase in the meme coin’s price, taking it to $0.15 over the following days. However, the rally was short-lived and Dogecoin soon reversed all the gains that came thanks to the Dogefather’s offer.

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