Elon Musk

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<p><a href="https://grimacedoge.com" rel="noopener noreferrer nofollow">Grimace Coin</a> is a meme coin project on DogeChain. It launched following a light-hearted exchange on Twitter between Elon Musk and McDonald’s. This prompted a team of developers to release GRIMACE, the Grimace Coin’s native token. In the past, Musk has tweeted about Dogecoin (DOGE), driving prices higher.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>only if <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@tesla</a> accepts grimacecoin <a href="https://t.co/CQrmAFelHR" rel="noopener noreferrer nofollow">https://t.co/CQrmAFelHR</a><a href="https://t.co/to9HmYJhej" rel="noopener noreferrer nofollow">pic.twitter.com/to9HmYJhej</a></p>— McDonald's (@McDonalds) <a href="https://twitter.com/McDonalds/status/1486115285983805444?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 25, 2022</a></blockquote></div></figure><h2 class="wp-block-heading" id="strong-the-drc-20-standard-strong"><strong>The DRC-20 standard&nbsp;&nbsp;</strong></h2><p>DRC-20 tokens are the native crypto assets of the DogeChain network. They are similar to ERC-20 tokens on Ethereum. However, they can hold many assets, including digital currencies, non-fungible tokens, and more.</p><p>The launch of GRIMACE on DogeChain has catalyzed activity, increasing user count.</p><p>According to BitInfocharts, over 645,000 transactions have been posted on DogeChain following the DRC-20 standard launch earlier this year.&nbsp;</p><p>You might also like: <a href="https://crypto.news/bitcoin-funds-decline-as-crypto-investors-flock-to-ether-and-xrp/" rel="noopener noreferrer nofollow"> Bitcoin funds decline as crypto investors flock to Ether and XRP </a></p><p>On launch date, DogeChain transactions briefly<a href="https://crypto.news/dogecoin-daily-transactions-hit-record-high-overtaking-bitcoin/" rel="noopener noreferrer nofollow"> surpassed</a> those processed by Bitcoin and Litecoin.&nbsp;</p><p>GRIMACE has a total supply of 1 million. The token has since rallied from $6 to $34.44, pushing its market capitalization to $34.6 million.&nbsp;</p><p>The meme token has also been listed on several decentralized exchanges, including <a href="https://coinmarketcap.com/exchanges/mexc/" rel="noopener noreferrer nofollow">MEXC</a> and <a href="https://coinmarketcap.com/exchanges/kibbleswap/" rel="noopener noreferrer nofollow">KibbleSwap</a>.&nbsp;</p><h2 class="wp-block-heading" id="strong-grimace-growth-strong"><strong>GRIMACE growth</strong></h2><p>GRIMACE’s launch on the DogeChain network can open up new possibilities in the meme world.&nbsp;</p><p>At the same time, its developers are also constantly exploring potential revenue sources for long-term sustainability.&nbsp;</p><p>Even so, the performance of DRC-20 tokens and the broader meme coin scene has varied, and volatility has remained elevated since the introduction of GRIMACE.&nbsp;</p><p>To illustrate, Dogecoin rose 8% in the days before GRIMACE launched.</p><p>At the same time, the Dogelon Mars token (ELON) fell. Some analysts link this contraction to ELON holders liquidating and rotating funds to GRIMACE.</p><figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper"><iframe title="Grimace coin +300% on a McDonalds MEME" src="https://www.youtube.com/embed/WUN4_x9FjVM?feature=oembed"></iframe></div></figure><h2 class="wp-block-heading" id="strong-grimace-coin-on-dogechain-strong"><strong>Grimace coin on DogeChain</strong></h2><p>The DogeChain network allows for minting and trading non-fungible tokens (NFTs). Meanwhile, the Grimace Coin initiative prioritizes generating income and entertainment through its utility.</p><p>The Grimace team is also developing <a href="https://grimace-labs.github.io/GrimaceSwap/" rel="noopener noreferrer nofollow">Grimace Swap</a>, a decentralized exchange (DEX) for trading GRIMACE and other tokens. There are also plans to launch a play-to-earn (P2E) gaming platform.</p><p>The project is still in its early stages, but its <a href="https://t.me/grimacecommunity" rel="noopener noreferrer nofollow">community</a> comprises individuals who believe in its potential.&nbsp;</p><p>However, it can potentially grow to become a key player in the meme coin, non-fungible token (NFT), and decentralized finance (defi) scene.&nbsp;</p><p>Nonetheless, like all web3 projects, supporters should do their due diligence and consider possible risks before investing.</p><p>Read more: <a href="https://crypto.news/new-bill-proposes-strict-rules-for-defi-protocols/" rel="noopener noreferrer nofollow"> New bill proposes strict rules for DeFi protocols </a></p><p>Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.</p>

Grimace deploys on DogeChain, plans to launch DEX and P2E game

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