Rancakmedia.com – As a result of Elon Musk's Twitter exchange and McDonald's, a new cryptocurrency known as GRIM's Crypto Grimace Coin has increased in value by 20,000% in less than 24 hours.
Meanwhile, a tweet from McDonald's asking Tesla to take Grimace Coin has brought to life 10 new crypto tokens on the Binance Smart Chain, although the fast food giant has yet to move into cryptocurrency.
A Twitter exchange between Musk and McDonald's helped boost Grimace Coin. In less than a day, its market cap increased from $0 to around $7 million.
After a Tweet from McDonald's Encourages the Creation of Grimace Coin
Musk and McDonald's engaged in a heated Twitter exchange on Tuesday, in which Musk requested that McDonald's start accepting Dogecoin payments.
Musk went on to say that if McDonald's agreed to take Dogecoin, he would consume the Happy Meal on national television.
McDonald's responded by tweeting that they would agree to Musk's demands provided Tesla accepts Grimace Coin.
The following Twitter exchange generated a wave of trading, propelling Grimace Coin into the limelight by changing its price. There was a 200% increase in the price of the new cryptocurrency in the previous 24 hours.
The Grimace Coin is an element of McDonald's marketing strategy and is usually shown as a purple figure in McDonald's advertisements.
To date, the fast food company has not entered the crypto market, but a prank tweet it sent prompting Tesla to accept Grimace Coin has prompted nearly ten anonymous individuals to build their own Crypto Grimace Coin.
In addition, Musk's Tweet encouraging McDonald's to promote Dogecoin also affected its costs dramatically. Dogecoin jumped 8 percent after the tweet went viral, but then dropped to $0.1409.
During this time, the prank cryptocurrency has received some hilarious replies on Twitter. According to NZXT, a well-known gaming gear maker, the following Twitter exchanges will make for a great NFT!
Billy Markus, the founder of Dogecoin, however, also replied to the tweet, citing concerns about how it would undermine the legitimacy of Dogecoin and cryptocurrency in general by attracting certain elements within the community.
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A tweet from McDonald's prompted the creation of the Crypto Grimace Coin. In less than a day, its market cap increased from $0 to around $7 million.
Crypto Grimace Coin is an element of McDonald's marketing strategy and is usually shown as a purple figure in McDonald's advertisements. There was a 200% increase in the price of the new cryptocurrency in the previous 24 hours.
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