Elon Musk-McDonald's Exchange Over Dogecoin Sparks Creation Of New Cryptocurrency — And It's Up Over 50000% Within Hours

Tesla Inc. TSLA CEO Elon Musk on Tuesday requested McDonald’s Corp. MCD to accept Dogecoin DOGE/USD in exchange for the world’s richest person promoting the company’s “happy meal” product.

The fast food chain responded, in wit, that it would comply with the request if Tesla similarly began accepting a made-up coin called “Grimace Coin.”

Little did McDonald’s know that it wouldn’t be a made-up cryptocurrency for long. Yes, there’s already over a dozen Grimace coins out in the wild world of cryptocurrencies.

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One project seeing widespread action right now is Grimace Coin (CRYPTO: $GRIM), based on the Ethereum blockchain, which already has a website and a Twitter account up.

At the time of writing, the cryptocurrency was up 52,910% since launch at $0.00396116, as per data from DexTools.

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Among those who acknowledged the new cryptocurrencies cropping up were Dogecoin co-founder Billy Markus and Twitter parody account Greg, who is especially popular with the meme-coin community.