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by Vignesh Karunanidhi
In an apparent allusion to meme cryptocurrency Dogecoin, Mexican fast food business Chipotle uploaded an image of a big Shiba Inu dog on top of one of its eateries.
Because of the lovers of the world’s largest canine coin, the amusing image received a lot of attention on Twitter. The fast food chain had also recently announced a $200,000 crypto giveaway where users could also win $11,250 worth of DOGE by simply playing an interactive game on their website.
Global firms are incorporating meme coins like Dogecoin and SHIB
The Colorado-based company in June started accepting payments in Dogecoin, Shiba Inu, and several other cryptocurrencies. Burritos or Bitcoin was Chipotle’s first bitcoin campaign, which the company sponsored in 2017.
In November, Burger King, a big fast-food chain, started giving out free bitcoin and adding Dogecoin to its menu. Other large firms have also tried to capitalize on the dog craze that gripped the financial world in 2021. Unilever-owned Axe has already scheduled two competitions with a Dogecoin theme.
Investors’ patience has been put to the test this year as Dogecoin has traded poorly and hardly grown in price. The truth is far different from what social media influencers are attempting to portray when they try to hype up Doge.
DOGE is now trading at $0.06248, and it has to purely outperform itself to hit its all-time high of $0.7378. In addition, DOGE is down 91.5 percent from the $0.73 all-time high it hit in May of last year.
As compared to DOGE, SHIB has gained much traction this year with a lot of developments including the SHIB metaverse launch, the burn portal, and other developments under work.
SHIB is currently trading at $0.00001066 and is down 87.9% from its all-time high in October 2021. Both the meme coins have a long way to go to pass their previous milestone.
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