Dogecoin has a way of attracting major brands to the project. First it was consumer products brand AXE, which created a limited supply of physical Dogecans. Nows Oscar Mayer, which is known for its hot dogs, among other food products, is jumping into the meme-coin fray.
The American brand has announced a “limited-edition pack of Hot Doge Wieners that comes with the cash value of 10,000 Dogecoins.” This converts to approximately USD 2K if the Doge price can make its way back up to USD 0.20. The supply is limited as the company only made one pack. In order to be eligible, participants must bid on the auction platform eBay, where the starting bid was USD 0.99.
Breaking the Internet
The response was so immense that while the Dogecoin community might not have broken the internet, they did break the eBay link. According to reports, the bidding has shot up to more than USD 3,400. There is still time for more people to join the auction for the Hot Doge Wieners, as the promotion won’t end until Aug. 7 — if they can get the eBay link working again.
Doge investors were quick to welcome Oscar Mayer to the meme-coin family. The more that mainstream brands embrace cryptocurrencies such as Dogecoin, the greater the chance for wide-scale adoption.
The excitement has yet to spill over to the Dogecoin price, however. Doge is currently trading below the psychologically sensitive USD 0.20 level and is down 2% in the last 24-hour period.
Baby Doge Rally
While the Dogecoin price is lower in sympathy with the broader cryptocurrency markets, another dog-themed coin is bucking the trend. Baby Doge Coin is up by a double-digit percentage, giving investors something to celebrate. OKEx may have something to do with it. Decentralized trading chain OKExChain is welcoming Baby Doge. According to social media accounts, users are hoping it will potentially lead to an official listing on OKEx exchange.
Baby Doge is growing in popularity. According to the project’s Twitter account, there are now more than 530,000 Baby Doge Coin holders.
The Baby Doge team is planning a coin burn on Aug. 6, which has drummed up additional excitement among users. In a coin burn, tokens are removed from circulation, which underpins the scarcity of the cryptocurrency and has the potential to bolster the price.
This article was originally posted on FX Empire