Dogecoin and Shiba Inu debut on AMC Theatres as payment, boosting the bullish narrative behind the memecoins
- Dogecoin and Shiba Inu price could break into an uptrend in response to rising utility at American movie theatre chain.
- Proponents are bullish on the meme coin’s recovery as acceptance by AMC Theatre chain could drive adoption among users.
- Analysts believe Dogecoin price could offer 20% in profits as the meme coin breaks out of its downtrend.
Dogecoin price could break into an uptrend after AMC Theatres announced it would accept it as payment in its venues. Shiba Inu price could recover from recent drop as the meme coin's utility also rises.
Dogecoin and Shiba Inu price could breakout, offering users 20% rally
Dogecoin and Shiba Inu price is poised to rally after America's large multinational theatre group AMC Theatres officially announced that it would accept Dogecoin and Shiba Inu as payment.
Their widening acceptance as legal tender could push prices and adoption higher, fueling a rally in Dogecoin and Shiba Inu.
Customers of the theatre chain can pay in Dogecoin and Shiba Inu starting next month. Meme coin payments would be processed through provider BitPay.
Adam Aron, CEO of AMC Theatre tweeted:
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.
In November 2021, a unit of the firm, AMC Entertainment Holdings started accepting Bitcoin, Ethereum, Bitcoin cash and Litecoin as payments.
The Shiba Inu community has waited for the announcement for months. The price of AMC's shares increased in response to the announcement by CEO Adam Aron.
Analysts have evaluated the Dogecoin price and predicted a rally in the meme coin. FXStreet analysts believe that there could be a 20% rally in Dogecoin. The meme coin would offer users a profit in the short term.
Shiba Inu price could recover from the recent crypto bloodshed. Analysts believe that the meme coin could witness a massive breakout.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
