Yum! Dogecoin-inspired burger joint opens in Dubai and yes, they accept crypto  

  Dogecoin, the meme that became a popular cryptocurrency, now has a new claim to fame – a restaurant has opened in Dubai based on the meme-coin.  

Yum! Dogecoin-inspired burger joint opens in Dubai and yes, they accept crypto  

Doge Burger was launched in Dubai in February 2022, allowing customers to pay for meals using crypto assets. The restaurant was launched by Rocket Kitchens, a chain of virtual restaurants, and its menu is filled with dogecoin-inspired burgers.  

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As cryptocurrencies, such as Bitcoin, become increasingly more mainstream, many institutions and firms will start accepting digital coins as legal tender. Doge Burger is not the first restaurant in the UAE to accept cryptocurrency; since 2014, many restaurants have accepted cryptocurrency for payments.  

Shift towards crypto payments 

Doge Burger joins a shift in the United Arab Emirates towards using cryptocurrency as a form of payment. Currently, the virtual restaurant accepts all major crypto coins. Why start a crypto-themed restaurant? The founders were early adopters of Dogecoin and reportedly funded Doge Burger with returns made on that investment.  

Hopefully, Doge Burger won’t see the same volatility as the crypto market has in 2022.  

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McDonald’s trolls Elon Musk – Grimacecoin is born  

 The launch of Doge Burger follows another bizarre burger-related dogecoin event. Earlier in January 2022, Tesla CEO Elon Musk tweeted that he would “eat a Happy Meal on TV” if McDonald’s accepted dogecoin. The burger giant tweeted “only if @tesla acceptsGrimacecoin” in response. The tweet was accompanied by a purple cartoon digital coin featuring McDonald’s mascot Grimace.  

The crypto market was so enamored by the idea that enterprising individuals created Grimacecoin. The new cryptocurrency is built on Ethereum (ETH), Binance Smart Coin (BSC), and Avalanche (AVAX). Grimaaceoin spiked from $0.00007 to one of which spiked very briefly from $0.0007 to $2 on its initial release. It’s currently trading at $0.04265.   

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Bitcoin crash  

Bitcoin, dropped as low as $36 831 on February 22, as tensions in Ukraine caused many to turn to “safe haven” assets such as gold.    

By February 23, the king of cryptocurrency has since recovered to $39 000.   

Since the start of 2022, the entire cryptocurrency market has experienced a mass sell-off that has yet to pass. Bitcoin, trading at nearly $40 000 is  35% below its November 2021 high of $62,000.  

 

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