Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
McDonald’s Trolls Crypto Twitter Influencers
Bitcoin crashed almost 50%, and McDonald’s marketing department is just rubbing it in.
“How are you doing, people who run crypto Twitter accounts,” they asked on Twitter, as about $130 billion in crypto assets disappeared in 24 hours.
Judging by the answers, things are not going that great. Billionaires and crypto exchanged responded with crypto memes and phrases, showing just how bad things are.
Crypto exchange Binance perhaps summed up the sentiment best. They responded with an image of a crying Wojak, a popular meme among retail investors and crypto traders.
— Binance (@binance) January 24, 2022
On Monday, Bitcoin dropped below $33,000, while Ethereum dropped below $2,200. Most other cryptos posted even more significant losses.
Since then, cryptos rebounded slightly. Bitcoin is currently trading at $36,500, while Ethereum is trading at $2,440.
Still, Bitcoin is down almost 50% since the record high of $68,789 in November. At the same time, there could be more downside to the markets.
That’s why Billy Markus, the creator of Dogecoin, responded by saying the famous crypto phrase “wagmi.”
The phrase stands for “we are gonna make it,” which traders often say when things are going wrong as they are now.
lemme make sure crypto hasn't killed itself in the last few minutes
okay cool we are clear
wagmi!
— Shibetoshi Nakamoto (@BillyM2k) January 24, 2022
McDonald’s Crypto Memes
But why is McDonald’s trolling Twitter traders? A popular meme featuring the company caught their attention. There’s a running joke in crypto circles about traders investing their McDonald’s paychecks into crypto.
Even billionaire Michael Saylor referenced that meme. The CEO of MicroStrategy suggested getting a McDonald’s job as well.
“Whatever it takes to acquire more Bitcoin,” he said, linking an image of his profile picture with a McDonald’s hat.
Doin' whatever it takes to acquire more #bitcoin… pic.twitter.com/Ae3wmbCCZx
— Michael Saylor⚡️ (@saylor) January 24, 2022
Fintwit, a Twitter trading community, posted an image with a similar message. Crypto traders might soon replace “laser eyes” for McDonald’s hats. Laser eyes are a popular effect among crypto traders. Saylor has it in its profile picture.
— Fintwit (@fintwit_news) January 24, 2022
Earlier, El Salvador’s president Nayib Bukele also referred to the joke. He added a McDonald’s hat to his profile picture. El Salvador also “bought the dip” as Bitcoin was crashing.
#NewProfilePic pic.twitter.com/YVDlBoA2Cq
— Nayib Bukele ?? (@nayibbukele) January 22, 2022
The source of these jokes is a self-deprecating meme about Wojak, a crypto or meme stock investor. As the meme suggests, Wojak works at McDonald’s and invests his paycheck in various cryptos.
Ultimately, he hopes that these investments will make him rich and let him quit his job. Usually, however, it doesn’t turn out that way, as markets foil his plans.
BREAKING: McDonald's sees mass influx of new workers after crypto crash forces HODLers to get a job pic.twitter.com/BaziLP7Cga
— Wall Street Memes (@wallstmemes) July 20, 2021
McDonald’s Labor Shortage
McDonald already referenced the meme in 2021 as it struggled to find workers. Back in June, when Bitcoin crashed from $58,000 to $34,000, the fast-food chain offered to hire struggling crypto traders.
Hey crypto bros, we got you! Apply below
In November 2021, a photoshopped McDonald’s billboard inviting crypto traders to apply for work went viral. The image echoed similar memes already mentioned by the company.
— Crypto Bros Taking Ls (@CoinersTakingLs) November 20, 2021
The retail and hospitality industries have been struggling with a labour shortage in the U.S. due to pandemic stimulus. A lack of unskilled labour has particularly hit fast-food chains like McDonald’s.
Many people opted to stay at home and collect the checks rather than take a job like a McDonald’s server. At the same time, some of these people invested in cryptos and stocks, contributing to the ballooning supply and crypto prices.
Here’s Why Bitcoin Needs Proof-Of-Work and NOT Proof-Of-Stake
Solana Experiences Another Outage Due to Network Congestion
Written by
More author posts
Publish your own article
Guest post article. Guaranteed publishing with just a few clicks
START PUBLISHING ADVERTISE WITH US