How Elon Musk Reacted To Suggestion That AMC Should Accept Dogecoin

Theater chain AMC Entertainment Holdings, Inc. AMC has been a retail favorite among stocks and in the crypto universe, Dogecoin DOGE/USD commands a frenzied following.

What Happened: A Twitter user said it makes sense for AMC to accept Dogecoin as a payment mode and asked others whether they agree.

AMC really should accept Dogecoin. It just makes sense. Do you agree? #doge #AMC

— Steven Steele (@MrStevenSteele) July 28, 2021

The tweet garnered 3,500 likes and 272 comments at press time. More importantly, it caught the attention of none other than Tesla, Inc.'s TSLA CEO Elon Musk, and he promptly liked the tweet. Musk has been an ardent backer of the meme crypto, and he has minced no words in expressing his preference for Doge over Bitcoin BTC/USD. He has shunned the latter, citing environmental concerns.

AMC, Doge Show Muted Reaction: Both AMC shares and the Doge have not reacted much to the tweet or Musk's response.

Dogecoin, which hit an all-time high of 73.76 cents in early May, has pulled back notably from the level. The meme coin has stabilized at around 20 cents this week.

At last check, Doge was down 2.14% at 20.12 cents and AMC was losing 1.88% to $38.17.

Related Link: HOW TO BUY DOGECOIN