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AMC on Track to Accept Dogecoin, Shiba Inu Crypto Payments in 2022

2 years ago

The growth of meme-coins, especially in 2021, cannot be overstated, as people were pushed to the brink of the top tier in a matter of seconds. And so, the crypto world changed the way it used to think of the meme-coins, that is, as a joke. But, it is not just the small-timers who seem interested in DOGE and SHIB because larger networks like AMC Entertainment have announced their plans to incorporate these two cryptocurrencies in their payment system following. According to this Dogecoin price prediction, the DOGE price is predicted to cross $0.27 by the end of this year due to the recent massive sell-off in the crypto market. 

The announcement reached the followers following the new year and clearly stated the company’s intention to keep the promises it made in the final quarter of 2021. As early as September, AMC’s Adam Aron hinted at Dogecoin’s acceptance on the AMC network. Soon the company began accepting Dogecoin for gift cards with a maximum limit of $200 per day. Shiba Inu was expected to come in after 60 to 120 days. However, what reached the followers was AMC’s plans of incorporating both the meme-coins on all payment environments as alternatives. 

The demand for Dogecoin and Shiba Inu reached AMC Entertainment as the company already listed cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcash as payment alternatives. As AMC made its intention about exploring cryptocurrencies, demands have come in from many for accepting Dogecoin and Shiba Inu as well. Now the project is already underway and expects implementation by the end of March in 2021. AMC also expressed its interest in exploring the possibilities of having its currency. But, there is still no clear news about it.

The tweets from Aron make it obvious that these plans of exploration are a part of the network’s grand scheme to improve its financial stability. According to the announcements, a significant portion of AMC’s revenue goes into paying interest for the debts incurred in the past. Hopefully, these new projects exploring cryptocurrencies will bring the desired result for the company.

Furthermore, AMC is also in talks to expand its network of theatres. A full refreshment program is also underway with a 25 million dollar advertisement campaign and an expansion of the popcorn business. Despite the innovative takes on the issues, the AMC stocks have not been performing well in the share market, with a 54% fall in just two quarters.