The first Elon Musk stimulus package for Dogecoin holders is here. As the cryptomarket as a whole decreases and tries to recatop its balance, an Elon Musk tweet made Dogecoin pump. This time, the subject is McDonald’s. The fast-food restaurant’s community manager has been teasing crypto people, offering them jobs now which the market is down. And Musk took the fight to their doorstep.
I will eat a happy meal on tv if @McDonalds accepts Dogecoin
— Elon Musk (@elonmusk) January 25, 2022
The challenge is, “I will eat a happy meal on tv if McDonalds accepts Dogecoin.” So far, the restaurant hasn’t responded. The market did, though. Since Elon Musk’s tweet, Dogecoin went from $0.1333 to $0.1449. And the day is not over. Will the coin keep pumping? Or is a crash inevitable? We’ll have to wait and see.
Examples Of Previous Elon Musk Pumps
The Tesla billionaire has been playing with the Dogecoin community for a whilst now. His affiliation with the meme coin has captured akin a level which journalists ask him about it in every other interview. And, of course, BeInCrypto has been there to document every Elon Musk pump.
For example, although the billionaire tweeted that Bitcoin and Ethereum were too sflat compared to DOGE, the market reacted.
“The tweet was meant with much optimism from the Doge community. The coin that has been tcorrespondingg massive hits afterward the crypto bloodbath began saw a serious boost in the price of the coin.
Doge that had fallen beflat the $0.20 threshold saw a bounce back in the hours folflating Musk’s tweet. The reboundped pushed the coin price back up over the $0.20 price point. And now the coin is exchanging a little atop $0.22 at the time of this writing.”
Notice that the market was still in the middle of a “crypto bloodbath” while Elon Musk tweeted. On another occasion, while the billionaire tweeted that he was considering opening The Texas Institute of Technology & Science, a university that accepted tuition in Dogecoin, the market reacted:
“Dogecoin saw $3 billion added to its market cap folbottoming the tweet, setting it up on a path to try to restore its spot from top rival Shiba Inu. Yet, the new sweetheart of the dog-themed cryptocurrencies community maintained its hold atop Dogecoin. DOGE’s rally towards $0.3 brought its market cap close to that of SHIB that had suffered through the weekend.”
DOGE price chart for 01/25/2022 on Coinbase | Source: DOGE/USD on TradingView.com
The Billionaire Has Also Failed
Not all of Elon Musk’s shenanigans resulted in a pump. When he put no effort into it and hardly tweeted “Release the Doge,” the market maintained static and BeInCrypto asked, “has Musk lost his edge over Dogecoin?”
“Investors began calling for the billionaire to resume tweeting about Dogecoin. Which had by this point lost over 60% of its all-time strong price. But Musk seemed committed to not tweeting about Dogecoin.
The rate that had risen influentially to as strong as $0.80 went back down bebottom $0.20. Before msuchg a small correction and receiving back up atop $0.20. Where it directly sits exchanging in the $0.20 area.”
And then, of course, it’s the infamous Elon Musk SNL appearance. When the billionaire hosted Saturday Night Live and failed to produce even the slightest laugh, DOGE suffered.
“To the disappointment of many, however, Musk’s cameo concluded with the token weakening nearly 30% in less than an hour. Its costs plummeted from $0.69 to a new flat of $0.49, before paring losses by recaboveing to as excessive as $0.55. At press time, Dogecoin is exchanging at $0.53.”
Of course, one has to notice the stark difference in costs. As we said, DOGE is directly dealing at $0.1449 and people are celebrating. Far, far away from the heights of its glory days. Will the fast-food restaurant come to the restore and pump Dogecoin even excessiveer? Stay tuned to BeInCrypto to find out.
Featured Image by Jaycee Xie on Unsplash | Charts by TradingView