The official Twitter handle of Dogecoin posted a tweet mentioning McDonald’s saying, “Mcdonald’s should accept Dogecoin!” Following this, holders of the cryptocurrency are inundating the popular fast food outlet with requests to accept DOGE, which is the cryptocurrency of Dogecoin.
Why DogeCoin Is Going After McDonald’s?
McDonald’s is the 9th biggest global brand by valuation. By revenue, Mcdonald’s is the world’s largest fast-food restaurant.
Richard and Maurice McDonald started a fast-food restaurant in the United States in 1940. Today, the outlet operates in 100 countries and serves millions of customers.
Additionally, Dogecoin is a cryptocurrency that started as a joke in 2013. Dogecoin is a lighthearted alternative to popular cryptocurrency Bitcoin.
Billy Marcus and Jackson Palmer, the founders of Dogecoin who met on Reddit, combined two popular themes to create the cryptocurrency.
These themes were the popular meme featuring Shiba Inu and the rise of the cryptocurrency Bitcoin.
The cryptocurrency hosts the Shiba Inu dog breed as its logo. Dogecoin is alternatively a “meme coin” having the meme dog as it’s front face logo.
However, as of 2021, this meme coin has become one of the biggest cryptocurrencies by market capitalization. And they are looking for mass adoption, and wants to target big names such as Tesla and McDonald’s.
Different Than Bitcoin
Compared to cryptocurrencies like Bitcoin, Dogecoin is a bit different in design. Bitcoin was designed to be limited, which means that the supply of bitcoins is restricted to 21 million coins. After 21 million coins, bitcoin cannot be “mined” further.
However, Dogecoin is unlimited in supply. This means that there is no cap to the amount of Dogecoin that users can mine.
In 2021, Retail Investors on Reddit drove the price of Dogecoin by 7,000 percent. Dogecoin saw further support from Tesla founder Elon Musk. Media attraction has compelled investors to trade in the meme cryptocurrency.
McDonald’s Responds to DogeCoin Tweet
McDonald responded to the tweet by Billy Marcus with a picture of their mascot Shiba Inu holding a french fry in his mouth. McDonald’s also stated that it would continuously evaluate its customers’ payment experience.
This is not the first time McDonald’s has dabbled in the cryptocurrency world. In November 2021, the outlet launched its first Non-Fungible Token (NFT) collection to celebrate the 40th anniversary of launching its famous pork sandwich, McRib.
In 2018, the company also launched MacCoin to cash on the crypto frenzy. However, MacCoin was simply a coupon that allowed customers to have a free burger at Mcdonald’s.
Only Country Where McDonald’s Accepts Cryptocurrency
El Salvador is the only country where Mcdonald’s accepts Bitcoin as a means of payment. This is because the tropical nation declared Bitcoin a legal tender and an accepted mode of payment.
Whether Mcdonald’s accepts the request by Dogecoin investors remains to be seen.