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The CEO of AMC Theatres, Adam Aron, has finally confirmed the date of when Dogecoin and Shiba Inu payments will be available for the company. Aron announced plans to accept DOGE and SHIB payments last year. These meme coins will be used in buying move tickets for the theatre company.
The acceptance of DOGE and SHIB by AMC Theatres was one of the major endorsements that meme coins have seen over the past year.
AMC Theatres to accept DOGE & SHIB
Aron said that Dogecoin and Shiba Inu payments will be available towards the end of the month. The setting of this date now cements the idea that the two meme coins will now be accepted as a means of payment. According to the executive, DOGE and SHIB users will now transact on the platform from March 19.
This might rev up the Cryptocurrency fans amongst you. AMC IT says that BitPay will be live for AMC online payments on our web site by March 19, and live on our mobile apps by April 16. Possibly a few days earlier. BitPay, and therefore soon AMC, accepts Doge Coin and Shiba Inu. pic.twitter.com/M8lM3Rz2vY
— Adam Aron (@CEOAdam) February 28, 2022
The service will be initially available for users on the website. Mobile app users will gain access to the feature by mid-April. The addition of the two largest meme coins came from the high demand from users. The two can now be used to buy tickets and other goods. Dogecoin is currently the largest meme coin by market capitalization. It is followed by Shiba Inu, that has claimed to be a Dogecoin-killer.
Shiba Inu rose into popularity towards the end of last year after reaching an all-time high. During the rally, it also managed to surpass Dogecoin’s market cap. However, it has since failed to maintain the gains following the recession across the cryptocurrency market.
This is not the first time that AMC Theatres is interacting with cryptocurrencies. The movie theatre chain has already developed a working relationship with other assets like Bitcoin and Ethereum.
When Aron posted a poll of whether or not to start accepting payments in Dogecoin and Shiba Inu, he was met with overwhelming support and pledged to do so. However, the move has been quite slow than expected. The acceptance started with the use of Dogecoin to buy digital gifts, with the firm promising that additional support would be unveiled in the future.
When Aron revealed that Shiba Inu would support AMC Theaters towards the end of last year, he noted that some technicalities needed to be addressed first. However, this move will not be possible, thanks to a partnership between the company and BitPay. The latter will facilitate the acceptance of meme coin payments by March 19.
Increased adoption of meme coins
Meme coins seem to be recording increased adoption despite their hype dying down. Meme coins are no longer triggering a massive rally as they did in 2021. However, they still have a large following, and their adoption in the real world continues to be manifested.
Dogecoin came into the limelight through the support of Elon Musk, Tesla’s CEO. Earlier this year, Musk stated that Dogecoin would be accepted as a means of payment to buy Tesla merchandise. He has also promised to launch a similar initiative for Starlink.
Shiba Inu is also finding its way into the physical world. Recently, Shiba Inu partnered with Welly’s, an Italian fast-food restaurant, to promote the meme coin. The fast food restaurant will be branded with a Shiba Inu theme through this partnership. Moreover, SHIB would be accepted as a means of payment for purchases made at the restaurant.
Another popular meme token on the market is Floki Inu. This token has continued to record increased growth and popularity due to the strategic marketing efforts of its development team. In 2021, the meme coin promoted it in Burj Khalifa, the tallest skyscraper globally.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.