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Alex Dovbnya

The meme coin is holding strong amid a market correction

Bitcoin, which hit a new all-time high of $69,000 on Wednesday, is now down 3.92%, exerting pressure on the broader cryptocurrency market.

Apart from Shiba Inu and two stablecoins, every other top 30 cryptocurrency is also in the red.

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XRP and Algorand (ALGO) are down more than 8%. Litecoin, however, is the biggest laggard, shedding 9%.

cardOMG Network (OMG), the 66th biggest crypto, is standing tall, soaring 12% over the past day.

SHIB is still down 36% from its all-time peak of $0.00008616 that was reached at the apex of retail mania in late October.

However, it seems like token is back in rally mode amid growing adoption. As reported by U.Today, AMC Theatres CEO Adam Aron confirmed that the movie theater giant would start accepting Shiba Inu for ticket purchases. 

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