No, in fact, with the high level of acidity and pH level of about 2.7, Coke will actually dissolve the meat, and will not help preserve it at all. So it will speed up the decomposition of meat.
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Yes. Coke, as well as many other sodas contain acid, which breaks down proteins, which is what meat is made out of. I suppose that if the meat sat in the soda for a long enough period of time, it would start to dissolve. It is similar to when a person would eat meat, the acids in their stomach break down the proteins in me at.