After a sharp decline in the past two weeks, Dogecoin has now turned green. It jumped 10% yesterday and it’s still rising today.

At the time of writing it was $0. 1488; up 9. 25% in the last 24 hours according to CoinMarketCap. According to CoinMarketCap, it has reached a high point of $0. 1511 and a low of $0. 1383 in the last 24 hours.

Let’s take a look at the hike.

Elon Musk vs McDonald’s Twitter spat that caused Dogecoin’s price rise

The Dogecoin market price soared following a Twitter spat between Elon Musk, Space X CEO and Tesla. Musk tweeted that he would eat happy meals on live TV if McDonald’s accepted Dogecoin (DOGE), as its official payment method.

I will eat a happy meal on tv if @McDonalds accepts Dogecoin

— Elon Musk (@elonmusk) January 25, 2022

A few minutes after the tweet was sent, the DOGE price increased 7% from $0. 135 to $0. 145 and the bullish momentum continues today as the two continue exchanging in the to and forth tweets that have attracted the attention of other crypto bigwigs including the co-founder of Dogecoin.

Since Musk started tweeting about the meme currency,

Tweets have had a significant impact on market prices. Previously, he had tweeted announcing that Tesla had started accepting DOGE for its merchandise using; something that caused the DOGE price to jump by 25%.

After the recent Tweet from Musk targeting MacDonald’s, McDonald’s responded ten hours later saying that it will only accept his offer if Tesla accepts Grimacecoin, a fake coin depicting a fuzzy purple McDonaldland mascot from the ’80s called “Grimace”.

Crypto opportunity seekers quickly responded to McDonald’s tweet about Grimace coin, saying that purchasing the coin would be a poor financial decision since it was only created a few hours ago but was already minted on Binance Smart Chain.

The media mainstream is trying cover Musk’s unpredictable online behavior by amplifying crypto tweets. This has caused him to join a bandwagon for McDonald’s crypto memes which have recently gained popularity on Twitter.

The Salvadoran president, Nyib Bukele, whose government had recently bought BTC dip before adding an extra 410 bitcoins at $36000 each in the recent dip, joined the tweeting spree by uploading a poorly edited photo of Musk with a McDonald branded hat and a nametag on 23rd January

#NewProfilePic pic.twitter.com/YVDlBoA2Cq

— Nayib Bukele (@nayibbukele) January 22, 2022

Musk seems to be comfortably pushing for Dogecoin despite Tesla ownership of more than 42000 Bitcoin with an average of $ 31,700 per coin. In Time Magazine, he recently stated:

“Fundamentally, Bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, Dogecoin is better suited for transactions.”