There have been an increasing number of larger companies accepting more cryptos and meme coins recently. As the tokens themselves have grown in popularity, there is a reason for this.
One of the largest companies in the entertainment industry, AMC Theatres, is accepting now DOGE and SHIB. Therefore, in this article, you will discover the reason behind this decision.
Use your DOGE and SHIB to Watch Movies
Last week, AMC boss Adam Aron announced that the company was accepting meme coins as payments for movie tickets.
Furthermore, he specifically mentions Dogecoin (DOGE) and Shiba Inu (SHIB). These two have emerged as favorites recently largely due to comments made by Elon Musk. Aron acknowledged that there is a great deal of enthusiasm for crypto at the moment.
In the tweet below, the CEO of AMC Theatres, Adam Aron, published this announcement:
Your replies just might break the internet, given your clear enthusiasm and interest in cryptocurrency. As promised, the https://t.co/SPYfKWXcwi web site now accepts Dogecoin and Shiba Inu for online payments! A special shout out to @BitPay for helping us to make this happen. pic.twitter.com/6bwPvQfEet
— Adam Aron (@CEOAdam) March 10, 2022
It’s important to know that last year, AMC announced that it was accepting Bitcoin and Ethereum. The firm has seen an uptick in crypto usage, hence the expansion into meme coins.
Also, Aron stated that BitPay will be live for AMC online payments on its website by March 19th, and on AMC mobile apps by April 16th.
More Companies are Accepting Meme Coins
Additionally, AMC is not alone as several firms have jumped on the meme coin bandwagon. More notable names include Newegg and GameStop. Others include Nordstorm, Whole Foods, Lowe’s, Petco, and Barnes and Noble all accepting payments in DOGE and SHIB.
The trend is set to expand as companies begin to realize that they can attract a larger number of new customers faster. Moreover, this is likely to drive more adoption of meme coins, especially from firms that have a younger customer demographic.
Whoa @Newegg has “Pay with Dogecoin” front and center. That’s awesome!
— Shibetoshi Nakamoto (@BillyM2k) May 22, 2021
DOGE and SHIB Price Outlook
Dogecoin surged into a top ten position in terms of market capitalization in early 2021. This was largely driven by Elon Musk’s Twitter shilling. Today, DOGE has dropped down to the 13th spot with a $15.2 billion market cap.
The meme coin has lost 1.3% on the day and was trading at $0.1145 at the time of writing this article. Also, DOGE is currently down more than 84% from its May 2021 all-time high of $0.731.
On the other hand, Shiba Inu has also fallen from fame somewhat. SHIB prices were down 3.8% on the day at $0.000021. This meme coin has tanked 74% from its October 2021 all-time high.
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