A Dogecoin-themed restaurant, Doge Burger, has just launched in Dubai, much as Welly's did with the Shiba Inu. The newest eatery is the brainchild of Rockets Kitchen, a well-known online restaurant group. This location, as if its others, is entirely digital as well as exclusively accepts Cryptocurrency payments. The restaurant serves dishes with an Americana theme and accepts more than just Dogecoin as payment. In addition to Binance Currency, USDT, XRP, and sometimes even Shiba Inu, another famous meme coin, the eatery will take these and other major Cryptocurrencies. The creators' early gamble on Dogecoin paid off, so they decided to create a restaurant with a Doge motif.

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McDonald's is starting to accept DOGE soon after Tesla CEO Elon Musk and DOGE co-creator Billy Markus lobbied the fast food chain to adopt it. According to media accounts, Musk challenged McDonald's to allow DOGE payments by saying he would publicly consume a Happy Meal on air if the fast food chain did so. When asked for comment, McDonald's joked that Tesla would have to take "grimacecoin" first, setting off a price surge in multiple phony versions of the Cryptocurrency. A competitor American delivery-only fast food company, MrBeast Burger, established by online sensation Jimmy Donaldson aka MrBeast, tweeted to Elon Musk that it would "work on" adopting the meme-inspired Cryptocurrency if the effort was successful.

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What is a Dogecoin?

In 2013, Dogecoin (DOGE) was introduced as a humorous alternative to established digital currencies like Bitcoin. The Shiba Inu moniker as well as logo were inspired by an internet joke. Dogecoin, in contrast to Bitcoin's deliberately limited quantity, is deliberately plentiful, with 10,000 additional tokens generated per minute and also no cap on total production. Throughout the majority of its history, Dogecoin was viewed as an adored but ultimately worthless "memecoin" by its supporters. As of April 2021, Dogecoin's overall worth has surpassed $50 billion, making it one of the ten largest Cryptocurrencies by market cap despite the fact that a single coin was only worth a few cents.

What Makes Dogecoin Valuable?

The value of DOGE is established by the market according to the laws of supply as well as desire, as with any commodity. In light of the ever-increasing supply, the current price growth can be explained only by a meteoric rise in demand. As a result of the Cryptocurrency boom, months of seemingly mouth twitter posts from Tesla co-founder Elon Musk, as well as his visual appeal on Saturday Night Live in May 2021, prices soared by around 7,000 percent in the first months of 2021. This was driven by retail investors on Reddit, including the wallstreetbets subreddit that triggered the "memestock" mania. The rapidly increasing value of DOGE in 2021 received a lot of media and social media attention, which for a while sparked a cycle that attracted even more investors and drove up costs even more. Fear of missing out (FOMO) causes a tidal wave of brand-new investors to enter the market if a security experiences sudden and substantial appreciation. Furthermore, DOGE is still a very volatile Cryptocurrency, and like with any investment, its forthcoming value cannot be predicted with any certainty.

Like Shiba Inu, Like Dogecoin

As Cryptocurrency use grows in popularity, so are eateries with a Cryptocurrency focus. This year, Welly's joined together with Shiba Inu to open a Naples restaurant with a focus on the breed of dog. In its quest to expand into a chain, the eatery has made an application sheet available to prospective franchisees. Welly's café, on the other hand, is unique in that it exists in a real location and serves solely Shiba Inu. Dogecoin's popularity only grows as more businesses start accepting it, like this dog-themed eatery.

SlingTV recently made an announcement that it will begin accepting Dogecoin along with other Cryptocurrencies as payment for its service. Elon Musk's Tesla has announced that it would begin accepting the popular meme currency at its fueling points. Dogecoin's recent surge in popularity is thanks in large part to these changes, which should have a favorable effect on the value of the Cryptocurrency in the long run. The coin has lost more than 8% of its worth in the last 24 hours, trying to trade at $0.1279 at time of publication. Similar declines were seen across the board in the Cryptocurrency market, which saw a 24-hour loss of about 7% of its market valuation.

Crypto Adoption is Growing in the UAE

The United Arab Emirates is home to a growing number of companies with a mission to promote widespread use of Cryptos like Doge Burger. The authorities are working on strategies to get more people to invest in Cryptocurrency. A proposal to provide government licenses to Crypto firms was unveiled this month in the United Arab Emirates. The United Arab Emirates is likewise looking to attract more Cryptocurrency miners to the nation. The Middle Eastern nation claims it will reap more economic benefits by regulating the Cryptocurrency industry. However, the United Arab Emirates is the Middle East's third largest Crypto market in terms of transaction volume.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.