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Dogecoin, shiba inu climb 2%-3% higher after AMC CEO tweet

By Kevin Donovan

20:07, 6 January 2022

A pile of shiba inu coins shine on a table
AMC stock moved very little on the development - Photo: Shutterstock

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.

Adam Aron dogecoin pollThe results of Adam Aron’s dogecoin poll - Photo: Twitter

Aron 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.

XRP/USD

0.54 Price
+4.370% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,537.56 Price
+13.960% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BCH/USD

505.05 Price
+4.180% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

BTC/USD

69,687.95 Price
+5.050% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

In each instance, the Twitter poll came back in the affirmative.

What is your sentiment on DOGE/USD?

0.1584624
Bullish
or
Bearish
Vote to see Traders sentiment!
Adam Aron shiba inu pollThe results of Adam Aron’s shiba inu poll - Photo: Twitter

AMC 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

Markets in this article

BCH/USD
Bitcoin Cash / USD
505.05 USD
20.25 +4.180%
DOGE/USD
DogeCoin / USD
0.1584624 USD
0.0091684 +6.150%
ETH/USD
Ethereum / USD
3537.56 USD
429.27 +13.960%

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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