Dogecoin becomes most traded token among BSC Whales

Shortly after Elon Musk pushed McDonald's to accept DOGE as a payment method, Dogecoin (DOGE) became the most traded token among whales on the Binance Smart Chain (BSC).


According to WhaleStats, large addresses on the BSC network began trading the original meme-inspired crypto shortly after Tesla CEO Elon Musk said on social media that he would eat a Happy Meal on TV if McDonald's accept DOGE payments.
Dogecoin (DOGE) | Image: Optimisus

According to WhaleStats, large addresses on the BSC network began trading the original meme-inspired crypto shortly after Tesla CEO Elon Musk said on social media that he would eat a Happy Meal on TV if McDonald's accept DOGE payments.



Musk's tweet came shortly after Tesla began accepting DOGE payments on its website, allowing specific products like its cyberwhistle, Giga Texas belt buckle, and cyberquad four-wheeler for kids to be purchased with it.


These items are all priced in DOGE, with the four-wheeler costing 12,020 coins and the cyberwhistle costing 300 DOGE.


Tesla notes on its Dogecoin support page that customers who send the incorrect amount of DOGE to its address may have their orders canceled, and that if an order is overpaid in the cryptocurrency, the overpayment amount will not be refunded to the original form of payment.


McDonald's quickly responded, saying Tesla should first accept grimacecoin, a rotund purple character featured in some of the company's marketing campaigns, in the form of a mock coin.


Dogecoin, which was created as a joke in 2013, rose in value as a result of the hype, as part of a larger market movement.


It's worth noting that WhaleStats' data does not refer to DOGE on the Dogecoin blockchain, but rather to a tokenized version of it on the Binance Smart Chain, which was held by over 469,000 users at the time of writing.


While whale trading volume is led by a BEP-20 version of DOGE, whale holdings are concentrated on BNB and tokenized versions of BTC and ETH, as well as stablecoins.