Dogecoin, shiba inu climb 2%-3% higher after AMC CEO tweet
20:07, 6 January 2022
Cryptocurrencies dogecoin and shiba inu moved 2% to 3% higher Thursday afternoon after AMC Entertainment CEO Adam Aron confirmed a first-quarter implementation schedule for accepting the coins.
“I have been repeatedly asked when AMC expects to routinely accept dogecoin and shiba inu for any and all payments made via the AMC website and mobile app,” Aron tweeted late Thursday morning. “I am being told that we are still well on track for the promised Q1 implementation, with exact timing most likely in March”.
Within two hours of Aron’s announcement, dogecoin moved 2.03% higher to $0.161373 from $0.158163 prior to the announcement. Shiba inu, meanwhile, surged 3.33% higher to $0.000031 from $0.000030.
The results of Adam Aron’s dogecoin poll - Photo: TwitterAron polled Twitter
Dogecoin opened Thursday at $0.155633, while shiba inu opened at $0000.30.
Both meme coins had moved to 24-hour lows of $0.147989 for dogecoin and $0.000029 after market on Wednesday, following Federal Open Market Committee comments, which signaled a more rapid monetary policy tightening than previously expected.
AMC began accepting bitcoin in November, and Aron had asked his Twitter followers if AMC should begin accepting dogecoin and shiba inu also.
In each instance, the Twitter poll came back in the affirmative.
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The results of Adam Aron’s shiba inu poll - Photo: TwitterAMC stock unchanged
AMC also accepts bitcoin, ether, litecoin and bitcoin cash as payment for movie tickets and concessions at its 950 theatres worldwide.
AMC stock moved very little on the development, trading down 0.40% in mid-afternoon trading Thursday at $22.82 compared with its $23.05 opening share price.
AMC Entertainment stock trades over the NYSE under the ticker AMC.
Read more: AMC to accept BTC, Ethereum and other cryptocurrencies
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