lately media attention on Dogecoin has loosened considerably, largely moving on to the many projects that aim to tear apart the famous meme coin. Enough to push more than one observer to predict an early decline for the iconic token sponsored by Elon Musk.
A prediction which, however, could soon prove to be extremely risky, especially in the light of a news that may have been little publicized in the past few days.
Will AMC accept Dogecoin for online payments?
AMC Entertaintment, the chain that owns a large number of movie theaters in the United States, may soon enclose DOGE to your online payments.
The idea was launched by the CEO of the company, Adam aron, in a tweet in which he invited his followers to express their idea about it, in a real survey. Which not only saw the clear prevalence of those in favor, but also brought the famous meme coin back to the attention of public opinion. Which had entered a gray area in recent weeks, also due to an unfavorable moment for the markets. Enough to see its price settle just above twenty cents of a dollar.
AMC now seems geared towards exploiting cryptocurrencies
AMC Entertainment is not new to theatrical hits of this genre. It had already announced its intention to allow online ticket payments in BTC and other cryptocurrencies, such as Ethereum, Litecoin e Bitcoin Cash
Naturally, it should be remembered that in absolute terms this additional opportunity certainly does not go to displace large volumes. On the other hand, however, it makes the company talk about in the media, thus promoting a zero-cost advertising campaign. However, the tokens mentioned also benefit from this. Including Dogecoin, which we can talk about in positive terms, after a not-so-happy period.
Dogecoin and the latest update
Moreover, DOGE had already returned to talk at the beginning of the month. When Elon Musk had focused on the latest project update implemented by his development group. As a result, the transactions in which the token is exchanged will cost much less.
The Tesla CEO, in his tweet, had not failed to positively judge this update, which in any case had not had a great impact on Dogecoin's listing.
The problem posed by large investors
When it comes to DOGE, its extremely large community of supporters is often mentioned. Who seem willing to follow the project uncritically and faithfully. In reality, however, the many people who are part of it have a very modest impact on the listing of the meme coin.
A contradiction due to a simple fact: the large majority of the tokens already issued are held by a small minority, made up of 535 subjects. Which according to some reports would currently hold 106 billion tokens. That is 82% of the entire supply available at the time these studies were disclosed.
Something is changing
Even with regard to this aspect, however, it seems that something is actually changing. In fact, over the past six months, many others have been added to the group of existing investors. Which should currently hold 25% of the entire supply. An interest that according to a report by Chainalysis had not been seen since 2017.
The renewed interest of small investors could therefore allow Dogecoin to resume an upward path that had stopped in the past months. Especially if Elon Musk comes back to pump the price.