Dogecoin Inches Closer To $0.08 After Burger King Tweets

Dogecoin enthusiasts are wagging their proverbial tails after Burger King UK teased a potential adoption of the meme-inspired cryptocurrency in a tweet, sending the DOGE community into a frenzy of anticipation.

As soon as the tweet went live, the price of DOGE surged by 2.72% to reach $0.77, giving its proponents a glimmer of hope that the cryptocurrency could finally break through the elusive $0.08 mark. 

While the fast-food giant did not provide any further details about its plans for DOGE adoption, the mere suggestion was enough to spark a bullish sentiment among Dogecoin supporters, who have been eagerly waiting for a breakthrough moment for months. 

The question now remains: could this be the moment that Dogecoin finally unleashes its potential and rockets to new heights?

Excitement Over Potential Dogecoin Adoption

Burger King Paris caused quite a stir in the crypto world this week when it announced that it would be accepting digital currencies as payment through Binance and Alchemy Pay. 

Responding to a post about the announcement, Burger King’s UK branch made an unexpected comment, stating, “We need doge.” 

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we need doge

— Burger King (@BurgerKingUK) March 28, 2023

This sent the Dogecoin community into a frenzy of excitement, but it wasn’t just DOGE that caught the attention of the fast-food giant. Burger King UK also responded to comments related to Floki Inu (FLOKI), though they have not confirmed nor denied whether they will accept the meme-inspired cryptocurrency as payment.

Odds Of Dogecoin Hitting $0.08 Mark Soon

On the daily chart at CoinMarketCap, the price of DOGE is edging closer to the critical resistance level at $0.07890. While it’s still too early to predict any major price movements, if the rate can break through and hold above the $0.078 mark, it could generate enough momentum for a potential surge toward the $0.08 level.

However, despite the optimistic outlook, DOGE has been struggling to gain traction in recent times, with its value remaining mostly stagnant.

Last year’s price drop, which saw the meme coin fall below $0.1 in November, has also affected its prospects among retail investors, who have become cautious in their approach due to the lack of significant price movements.

DOGE total market cap currently at $9.9 billion on the daily chart at TradingView.com

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Yes! Wen Doge ? 🐕 🍔 👑

— Doge Whisperer 🐕 (@TDogewhisperer) March 28, 2023

Nevertheless, the mere suggestion of Dogecoin adoption, as teased by Burger King UK, has sparked a renewed sense of bullish sentiment among the community.

This development serves as a timely reminder that sometimes, it only takes a simple comment on social media to reignite positive sentiments on a certain type of crypto and, in this case, DOGE.

-Featured image from Coinscreed