The stock of AMC Entertainment (NYSE: AMC) is once again on the upswing. The stock of the movie theatre chain is on the rise, due to a record-breaking October in post-pandemic ticket sales. And, as the corporation works to restore its viewership to pre-pandemic levels, the bitcoin market is rising with it. It’s boosting the Shiba Inu (CCC: SHIB-USD) cryptocurrency, in particular, today, after the AMC CEO sparked some interest in introducing the SHIB crypto to cinemas.
According to a press statement issued by AMC on Sunday, the firm had a banner month in October. October had the best ticket sales of any month since February 2020, according to the statement. As a consequence of the Covid-19 outbreak, AMC cinemas were forced to close in March 2020.
The report indicates that, since the commencement of the epidemic, consumers are growing more comfortable going out. It’s a good indication for AMC, whose main worry since the closure in early 2020 has been when and if customers would want to return to the theatres.
While the announcement is helping to boost AMC stock — prices are up 3% this morning — it is also assisting CEO Adam Aron in getting investors interested in cryptocurrency.
Since early summer, AMC has been lobbying to allow crypto payments in cinemas. It has already begun the difficult process of accepting cryptocurrency, enabling users to purchase gift cards on the AMC website using Bitcoin (CCC: BTC-USD). Its intentions, though, go well beyond e-commerce and gift cards. Customers will be able to use their crypto holdings to make all purchases in cinemas. Currently, it plans to accept Bitcoin, Litecoin (CCC: LTC-USD), Ethereum (CCC: ETH-USD), and Dogecoin (CCC: DOGE-USD) (CCC: DOGE-USD).
As AMC teases SHIB payments, Shiba Inu’s price predictions are heating up.
Aron isn’t backing down from his crypto bullishness; he wants to include one of the most popular cryptocurrencies in his slew of upcoming payments. A tweet from the CEO on Friday polled people on whether they want SHIB to be accepted as a payment mechanism at AMC cinemas. With over 145,000 replies, more than 80% of people think the firm should include SHIB.
The bullishness on SHIB is growing as a result of this news. Why? You can’t use your SHIB to buy tangible products or services right now since the token has no real-world use. Adding SHIB as a payment option at AMC cinemas immediately resolves this problem. SHIB stands to benefit greatly from AMC’s adoption since the theatrical company has had more success than ever since the outbreak of the epidemic.
As investors absorb Aron’s encouraging report, SHIB prices are up over 10% for the day. Let’s look at some Shiba Inu price forecasts to see where experts believe the stock will go in the future:
SHIB’s growth is expected to slow, according to WalletInvestor’s forecast. SHIB is expected to climb from $0.00007 to $0.000094 in a year, according to the site.
SHIB’s worth will decrease to another zero in the next 12 months, according to Gov Capital. The site’s price prediction for SHIB in November 2022 is $0.00011.
Both of these projections, according to CoinPriceForecast, are considered too low for SHIB. SHIB will be worth more than these other projections in a far shorter timeframe, according to the considerably more positive source. The publication predicts a price of $0.00029 for the coin by December.
SHIB is expected to reach $0.00014 by the end of 2021, according to the Economy Forecast Agency. SHIB is expected to reach $0.00034 by November 2022.