Elon Musk Says His McDonald’s Dogecoin Offer Still Stands – But DOGE Fails To Rally

• Elon Musk revived his years-old pledge to eat a Happy Meal on live TV if McDonald's accepts Dogecoin, replying "True" to a post recalling the offer.
• The response came after DogeDesigner shared an AI-generated video depicting Musk and the Dogecoin mascot at a McDonald's restaurant.
• Institutional interest in Dogecoin has grown, with Grayscale, Bitwise, and 21Shares pursuing DOGE-linked investment products.

Elon Musk, the SpaceX (SPCX) founder, revived his long-standing pledge on Monday to eat a Happy Meal on live television if McDonald's accepted Dogecoin (DOGE) as a payment, but the market barely reacted. 

The exchange began after Dogecoin community figure DogeDesigner shared an AI-generated video of Musk eating a Happy Meal alongside the Dogecoin mascot at a McDonald's restaurant. Musk responded "True" to the post, reaffirming his January 2022 pledge. 

However, the renewed attention failed to help the Dogecoin rally. Dogecoin’s price was down over 1% during the past 24 hours, suggesting the meme-driven catalyst failed to move the market. On Stocktwits, the retail sentiment around DOGE remained in the ‘bearish’ zone, while chatter around it stayed in the ‘low’ levels over the past day. 

Historically, Musk's Dogecoin posts have often moved the price, though the effect has weakened over time. 

Musk's Years-Old McDonald's Offer

Musk had posted back in January 2022 that he would eat a Happy Meal on live television if McDonald's accepted Dogecoin. McDonald's has not publicly accepted the offer or announced any plans to integrate Dogecoin payments.

Following Musk's latest reply on Monday, several Dogecoin-focused accounts circulated AI-generated images and videos depicting a fictional partnership between McDonald's and Dogecoin. 

Another Dogecoin community-focused account, Doge Norway, joked that McDonald's should "just buy it and rename it to McDoge.”

Institutional Interest In Dogecoin Grows

The renewed attention also comes as Dogecoin continues to attract interest beyond retail investors.

Asset managers, including Grayscale, Bitwise, and 21Shares, have filed for Dogecoin-linked investment products, while Grayscale launched a Dogecoin Trust exchange-traded fund (ETF) trading as “GDOG” last year. Additionally, 21Shares also launched the TDOG Dogecoin ETF earlier this year. 

The filings mark a broader push to bring the meme cryptocurrency into regulated investment vehicles traditionally used by institutional investors. According to SoSoValue data, DOGE ETFs have seen a cumulative total net inflow of $11.78 million as of Friday.

Read also: One Google Employee Used The Company’s Internal Data To Bet On Polymarket And Won $1.2M, DOJ Says

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