Despite the frenzied retail following, Dogecoin DOGE/USD has yet to see wide mainstream adoption.
What Happened: Many have been wanting to see the heady concoction of Dogecoin and meme stock AMC Entertainment Holdings, Inc. AMC.
Apparently, sensing the pulse of moviegoers, CEO Adam Aaron ran a Twitter poll asking whether the theater chain should accept Dogecoin as a payment option.
I sincerely want to hear your opinion, via this Twitter Poll. By year-end 2021, AMC will take Bitcoin, Etherum, Litecoin and Bitcoin Cash for online payments. I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?— Adam Aron (@CEOAdam) September 21, 2021
Why It's Important: The clamor for AMC accepting Dogecoin for ticket purchases began to grow louder after Aaron confirmed last week the company will begin to accept altcoins such as Ethereum ETH/USD, Litecoin LTC/USD and Bitcoin Cash BCH/USD.
A month back, Aaron announced on AMC's second-quarter earnings call that, by the end of 2021, the company will accept Bitcoin as payment for movie tickets and concessions if purchased online at all of its U.S. theatres.
A decision in favor of accepting Dogecoin could prove to be positive for the meme currency, which has been locked in a lackadaisical phase ever since it hit an all-time high of 73.76 cents in early May. It could also help AMC's ticket sales, adding to the buoyancy in recent months following COVID-19-induced weakness.
Aaron's tweet initially sent the Doge spiking to 21.75 cents, although the meme currency has pulled back since then. At last check, Doge was down 1% at $.2074 and AMC shares were down 3.13% at $39.03.
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