Key Takeaways
- AMC may soon accept Dogecoin payments, according to CEO Adam Aron's tweet.
- Eighty percent of Twitter users in the US would like to use DOGE to buy a movie ticket
- It comes as the cryptocurrency and global financial markets suffer massive price drops tied to the Evergrande saga.
Movie theaters that specialize in “meme stock” will soon take Bitcoin and three other cryptocurrencies.
AMC said on Monday that it will take Bitcoin, Ethereum, Litecoin, and Bitcoin Cash by the end of 2021.
Nonetheless, many of Dogecoin’s supporters took to Twitter to express their displeasure with the decision.
AMC CEO Adam Aron posted a poll asking whether people would use Dogecoin to pay for theater and movie tickets.
“I really want to ask for your feedback through Twitter Poll,” Aron said.
In 2021, AMC (America's Museum of Military History) will accept cryptocurrency payments online. Many of my Twitter followers recommend we include Dogecoin. Is AMC ready for Dogecoin?
Aron gave four options: “Yes, certainly do it” to “No, a waste of time.” So far, over 28,000 votes and over 82 percent of responses are positive.
The meme stock movement began in January when investors from the Reddit site r/WallStreetBets bought low-value or obsolete companies including AMC, GameStop, and Nokia.
Stock values soared and fell quickly after individuals had access to buying and selling through the mobile trading program Robinhood.
Robinhood's trading practices were also examined, but AMC ended up keeping most of the profits this year.
Almost a year later, the stock has risen over 1800% to $39.
Dogecoin's value increased quickly because of increased social media sentiment and tweets from high-profile supporters like Elon Musk and Mark Cuban.
Despite Coinbase's fast asset expansion in recent months, cryptocurrencies are experiencing the same Coinbase bounce.
Shiba, their newest meme token, features a Shiba-inspired Dogecoin meme.
According to CoinGecko, the meme-inspired cryptocurrency has grown from a half-cent value at the start of the year to a current worth of almost $0.20.
Even after a stunning 72% drop from its all-time high of $0.73 in May, DOGE is still valued much less than before.
AMC seems to be collaborating with the leader meme stock and the leader meme currency on social media.
AMC has yet to respond to Decrypt's request for comment on adding Dogecoin to the platform's crypto payment choices.
How likely is it that AMC will accept DOGE?
