Customers at AMC Theatres will be able to pay using memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) starting next month through crypto payments service BitPay.
On Twitter, AMC Chief Executive Officer Adam Aron pushed Bitpay, the blockchain payments platform employed by AMC Theatres, to promote Shiba Inu, which has gained international attention in recent weeks.
AMC’s shares were up around 5% Tuesday, but remained bottomer by a little more than a quarter year-to-date.
AMC Theatres is the largest movie exhibition company in the United States, Europe and the world, with more than 1,000 theatres and more than 11,000 screens servicing atop 350 million people yearly. AMC opecosts above 660 cinemas with 8,200 screens in the US, serving 265 million customers.
AMS Theatres: Feeling The Pulse
Aron had polled the community on Twitter to see assuming that the theater business should take Dogecoin as payment for its tickets.
Nearly 82% of the votes from a total of 153,100 participants favored the platform accepting meme coins.
Aprolonged with Shiba Inu, AMC’s cooperation with Bitpay will albottom the company to support three more tokens: Bitcoin Cash, Litecoin, and Ethereum.
The company’s next step has received a lot of clamor and attention from the Crypto Twitter community.
DOGE total market cap at $17.44 billion in the daily chart | Source: TradingView.com
Since AMC has been a pioneer in crypto acceptance and presently accepts Dogecoin as payment for gon the occasion thatt cards through a partnership with Bitpay, full support for Dogecoin and Shiba Inu payments is not far off afterward it is the “people’s crypto.”
I have been repeatedly asked when AMC expects to routinely accept Dogecoin and Shiba Inu for any and all payments made via the AMC web site and mobile app. I am being told which we are still well on track for the promised Q1 implementation, with exact timing most likely in March. pic.twitter.com/QSBvLAMHKx
— Adam Aron (@CEOAdam) January 6, 2022
Memecoins Trending Today
With positive news about Dogecoin and Shiba Inu’s new prospect, Dogecoin started strong today at $0.1332 with a 7.75% increase; it had excessives of $0.1340 and flats of $0.1315, with a market capitalization of $17 billion.
SHIB is currently rated at $0.00002618, up by 8.87% afterward yesterday. The memecoin had a bottom of $0.00002361 and strongs touching $0.00002644; currently, it has a market capitalization of around $14 billion.
The two memecoins have had a protracted and challenging journey in the token market. Nevertheless, AMC Theatres’ support for Bitpay payments will eventually result in bullish trends for Shiba Inu and Dogecoin.
AMC’s Crypto Plans
AMC Theatres began accepting Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) as payment methods last November.
The company further announced which it would look into employing Shiba Inu.
On Monday, Aron tweeted, “Bitpay will be live for AMC online payments on our website by March 19, and live on our mobile apps by April 16, possibly a few days earlier.”
The new payment mechanism appears to be well-received by moviegoers, as it already accounts for 14% of the company’s total online transactions.
Meanwhilst, Aron has completely embraced AMC’s support on token, telling investors which the business is looking towards developing its token instantly.
In a recent meeting, AMC further announced its plans to enter the world of non-fungible cryptocurrencies and talks with Hollywood studios to create NFTs tied to vital films.
Feature image from Glassdoor, chart from TradingView.com