Fast food giant McDonald's responded to Tesla CEO Elon Musk and drew the backlash. Elon Musk asked Chicago-based company McDonalds to accept Dogecoin. In return, he promised to eat Happy Meal on TV. McDonald's made a humorous reference to the proposal, tweeting that it would accept Dogecoin if Tesla accepted "Grimacecoin".

The Market Entry and Rise of Grimacecoin

The origin of Grimacecoin is based on old advertisements from McDonalds. It was inspired by the Grimace, a purple anthropomorphic creature that began appearing in McDonald's advertisements in the early 1970s. Initially, it was supposed to be a quiet four-armed character to steal the kids' milkshakes. But McDonald's chief creative officer Roy Bergold told QSR Magazine that "Evil Grimace" failed with these advertising policies because it was too scary for kids. Afterwards, it no longer appeared in advertising projects.

Just minutes after McDonald's tweet, someone who wanted to take advantage of the situation created a real token called "Grimacecoin" on Binance Smart Chain. It created a fast supply in the market. It rose more than 261,000% within hours before falling in value.

In Bsc, it is an event that everyone expects, that all kinds of coins can enter, rise or fall instantly. Users and everyone who will shop need to be careful.

The Dogecoin community was largely unsatisfied with the response. Many pointed to the fact that it took more than 10 hours for the company's marketing team to make such an offer.

Billy Markus, the co-founder of Dogecoin, said the Grimacecoin tweet is an example of how to turn something funny from being funny.

Glauber Contessoto, who made headlines last year as a self-proclaimed "Dogecoin millionaire," tweeted that the world's restaurant chain "missed an incredible opportunity for a terrible joke."