Dogecoin killer, Dogecoin copycat, Shi*coin etc. were a few names given to Shiba Inu, the new hype in the crypto-verse. It is no secret that there have been multiple projects in the cryptocurrency space that saw momentary hype but faded away in time. The market has similar expectations from Shiba but not before making use of the hype.
AMC theaters could join the bandwagon of those offering Shiba Inu as a payment option. The largest movie theater chain worldwide, has already made note of making payments for tickets and concession stand purchases possible through cryptos like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, now it was testing the waters for the addition of Shiba Inu.
AMC Theatres CEO, Adam Aron wanted his followers on Twitter to help him make this decision. Aron tweeted,
TWITTER POLL #2: As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others. Should we strive to take Shiba Inu too?
— Adam Aron (@CEOAdam) October 29, 2021
A large majority [nearly 82%] was already was in favor of utilizing Shiba as a means of payment for their entertainment. Aron had previously sought his followers’ opinions before listing Dogecoin, which also attracted Tesla CEO, Elon Musk’s attention.
Although support to DOGE will be added in 2022, it was currently being used for physical gift cards along with other cryptos. The Shiba Inu hype was evident as it turned people’s fortune within a year. As per market observers, the early investors in the project had now turned into billionaires.
This wallet bought roughly $8,000 of $SHIB last August.
It’s now worth $5.7 billion.
From $8,000 to $5.7 billion in roughly 400 days.
We may actually be looking at the greatest individual trade of all time. pic.twitter.com/LtdgQ83bKP
— Morning Brew ☕️ (@MorningBrew) October 27, 2021
In fact, the value of SHIB around a year ago was $0.000000000079. It has surged 80,000,000% over the past year and was currently trading at the ninth position on CoinMarketCap with a price of $0.00007375. This rally has pushed it ahead of Dogecoin and it has been acting as a DOGE-alternative.
However, like Dogecoin, Shiba Inu’s use case is debated. Despite that, it did not stop businesses cashing in on the interest generated by such coins.