US-based movie theater chain AMC Theaters is looking to expand its crypto portfolio in terms of accepting payments. Adam Aron, the CEO of AMC Theaters, posted a poll on Twitter asking if the Shiba Inu dog coin should be considered as a payment option for buying movie tickets and other services they offer in the States. The development comes nearly a month after the chain of cinemas enabled Dogecoin payments. In the crypto space, both Shiba Inu and Dogecoin face off as rival meme-based currencies. Backed by Elon Musk, Dogecoin is substantially more valuable than its "copycat," the Shiba Inu token, but in recent days, SHIB has shown stratospheric growth.
Aron cheep garnered over 18,000 likes since it was posted on Oct 29, it gives people four options to choose from. Of the four options, the first one that says "Yes Shiba Inu for Sure โhas emerged as the most voted with an 81 percent turnout. A total of 144,152 people have participated in the survey so far.
TWITTER SURVEY # 2: As you know, you can now buy AMC gift cards using cryptocurrencies, and our IT group is writing code so that we can soon accept online payments in Bitcoin, Ethereum, Litecoin, and Dogecoin among others. Should we strive to carry Shiba Inu as well?
- Adam Aron (@CEOAdam) October 29, 2021
However, the comment section on Aron's tweet seemed somewhat divided. While various comments on the post showed enthusiasm among Shiba Inu-supporters, some called it a "pump and dump" token and pointed out that the cryptocurrency it currently lacks stability and could create an unbalanced atmosphere for ticket buyers.
Well, BTC, ETH, LTC, and Doge are relatively stable. Shiba Inu is still pumping and dumping. Daily fluctuations of 10% at least, sometimes 70%, 80%. If someone bought their ticket with more coins and someone bought with much less ... some people might not be happy
- AngryBear (@Rippple_on_Ice) October 29, 2021
I'll buy $ AMC stock if you accept $ SHIB as a form of payment
- Mr Fox's_trading_post (@MrFoxstrading) October 31, 2021
$ shib it is volatile and unstable. Its sole purpose at this time is to pump and discharge. For a business, accepting shib would be too risky and could ultimately lose a lot of money.
- SeekN_daTendies (@SeekN_daTendies) October 29, 2021
The cryptocurrency was created by an anonymous creator "Ryoshi" in August 2020 and was traded as a Dogecoin assassin. Modeled after the Dogecoin, the Shiba Inu mascot is a caricature representation of a Japanese Shiba Inu dog.
On October 25, the Shiba Inu coin registered a 50 percent increase and became the 11th largest cryptocurrency coin by market value, Watcher Guru. reported. The cryptocurrency has seen steady growth since then.
Currently, each Shiba Inu token is trading at $ 0.000071 (roughly Rs. 0.0053) according to Gadgets 360 price tracker.
For now, it is unclear whether AMC Theaters I would continue to accept the Shiba Inu as a payment option. The chain of theaters already accepts Bitcoin, Ethereum, Litecoinand Dogecoin payments.
As lawmakers around the world look for ways to regulate cryptocurrencies, the crypto space is witnessing support and expansion in countries like India, Pakistan, Africa and the United Kingdom, among other nations.
In October, the market capitalization of all cryptocurrencies together has crossed a milestone of $ 2.5 trillion (approximately Rs. 1,87,42,625 crore) according to the cryptocurrency. tracker CoinMarketCap.
