Dogecoin Jumps 5% After Burger King Hints At Mysterious ‘BiteCoin’

Dogecoin (DOGE) has seemingly responded favorably to Burger King UK’s recent tweet referencing an unknown coin that nobody in the community seems to be aware of.

The UK branch of the popular fastfood chain caused a stir last week when it tweeted about wanting an “office doge,” following an unusual request by a cryptocurrency user for “We need doge.”

The Dogecoin community immediately reacted to the tweet, resulting in a surge in the price of this memecoin.

Dogecoin Community Reacts To ‘BiteCoin’

Over the weekend, Burger King UK again set the crypto community abuzz on Twitter with a tweet that read, “brb I’m making BiteCoin.”

As per the latest update on Coingecko, DOGE’s price has risen nearly 1.0% in the past 24 hours and 4.5% in the past seven days. The tweet from the fastfood giant caught the attention of Dogecoin enthusiasts, who had noticed the company’s earlier references to “Doge.”

brb I’m making BiteCoin

— Burger King (@BurgerKingUK) April 8, 2023

Burger King’s recent discussions about DOGE have generated a lot of excitement, particularly among fans of the cryptocurrency who are hoping that the fastfood chain will start accepting their preferred digital currencies.

Burger King’s Interest in DOGE

In a move that sparked increased attention towards Dogecoin, Burger King Brazil made an exciting announcement in 2021 that its Dogpper dog snack would be available for purchase with the cryptocurrency. The fastfood giant went on to promote the product across the country through an advertisement, bringing further exposure to Dogecoin.

Image: Black Enterprise

Later that same year, Burger King and Robinhood collaborated to offer US customers a crypto giveaway that included an impressive 20 Bitcoins, 200 Ether, and 2 million Dogecoins.

Despite these crypto-friendly initiatives, it remains uncertain whether Burger King UK plans to enable customers to buy meals with Dogecoin at its restaurants.

Twitter Users’ Love for DOGE

Recently, Dogecoin experienced a remarkable surge in its value as Twitter users noticed that their home buttons had been replaced with the beloved Doge meme.

In just a week, DOGE jumped by an impressive 35%, providing an indication of the level of influence social media platforms can have on the market.

According to LunarCrush, a social analytics platform, it was an eventful week for Dogecoin, with its average hourly social dominance surging to 7.54%, representing a significant increase of 212%.

Furthermore, the average unique hourly social contributors rose by an impressive 381%, while the total social engagements skyrocketed to 1.97 billion, an increase of 990%.

Crypto total market cap at $11.5 billion on the daily chart at TradingView.com

Given the positive response from Twitter users, analysts are confident that the latest turn of events will have a significant impact on Dogecoin’s growth trajectory.

In fact, many are predicting that DOGE will reach an all-time high before the end of the year, making it an exciting time for the Dogecoin community.

-Featured image from AP/Unsplash