Meme-centric cryptocurrency Dogecoin (DOGE) has broken the psychologically crucial mark of 20 cents as of press time late Thursday, hitting an all-time high of $0.2457.
What Happened: Doge received a shoutout from Conagra Brands Inc (NYSE:CAG) the makers of Slim Jim, a smoked meat stick snack, preceding it spiraling to never-before-seen highs.
Comparatively, the apex cryptocurrency Bitcoin (BTC) has risen 8.99% for the week and traded at 0.5% higher at $63,423.54 at press time.
Connolly touched on how DOGE and Dogecoin were a “natural fit” for the company’s Slim Jim brand in Conagra’s third-quarter earnings call on Thursday.
The executive said that joining the “online conversation about the Do Good Everyday sentiment of Dogecoin” has allowed it to tap into another channel to engage with the community.
“We’ve seen a market uptick in audience interaction, including direct engagement and advocacy from the person that created Dogecoin,” said Conolly.
Why It Matters: The shoutout by Connolly marks the first time ever DOGE has been featured in an earnings call, CoinDesk reported.
Conagra has built the Slim Jim community around memes, as per the executive.
GET READY TO GO TO THE MOON TOGETHER! 1 WEEK TO GO!!!
R S E & SPREAD THE WORD! pic.twitter.com/GdPAX6y3qt
— Slim Jim (@SlimJim) April 13, 2021
— Slim Jim (@SlimJim) April 16, 2021
While Tesla Inc (NASDAQ:TSLA) CEO Elon Musk often tweets about Dogecoin and these tweets sometimes have an impact on the price of the cryptocurrency, he has yet to mention the cryptocurrency in his official capacity.
The social media buzz around Dogecoin has sent it hurtling upwards in the last few days. DOGE topped the list of the ten most trending tickers on Stocktwits.com at press time.
Price Action: Conagra shares closed nearly 0.9% higher at $37.58.
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