DOGE hype! Billionaire Mark Cuban says Dogecoin will „definitely“ reach $1
The billionaire has taken a liking to cryptocurrencies and the DeFi space lately, and now Dogecoin is getting his attention.
The great potential of Dogecoin
Mark Cuban, the billionaire investor and owner of the Dallas Mavericks basketball team, says Dogecoin has the Immediate Edge potential to rise above $1 if it were used more widely in the Mavericks ecosystem.
The @dallasmavs have done more than 20,000 #Dogecoin in transactions, making us the LARGEST #DOGECOIN MERCHANT IN THE WORLD ! We thank all of you and can only say that if we sell another 6,556,000,000 #DOGECOIN worth of Mavs merch, #dogecoin will DEFINITELY HIT $1 !!!🚀🚀🚀
– Mark Cuban (@mcuban) March 6, 2021
The comment came days after the Mavericks began accepting Dogecoin (to buy Dogecoin guide) as payment for tickets, season passes and official fan merchandise. And although the service was only launched last week, Cuban claims that over 20,000 DOGE transactions have already been made.
„The Dallasmavs have conducted more than 20,000 #Dogecoin transactions, making us the largest Dogecoin trader in the world,“ Cuban said.
„We thank you all and can only say that if we sell another 6,556,000,000 DOGE worth of Mavs merch, Dogecoin will DEFINITELY ACHIEVE $1.“
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Dogecoin by co-creator Jackson Palmer began as a „joke“ cryptocurrency in 2013 as a competitor to Bitcoin. The coin was simply meant to reach a broader demographic.
Its 1-minute block intervals made it much faster than other blockchains at the time, while the use of a „Shiba Inu“ dog as its mascot made it much more accessible to new users.
But the coin has seen unprecedented success in the last few years. DOGE is currently valued at over $6 billion and has caught the attention of mainstream news and billionaires like Cuban and Tesla CEO Elon Musk.
Musk, in particular, seems to have taken a liking to it. He said earlier this year that DOGE could „reach the moon“ and tweeted several memes that used Dogecoin’s logo.
The Tesla CEO’s focus ended up attracting the attention of celebrities and social media stars, and even spawned a „TikTok challenge“ (though this was before Musk’s tweets).
Cuban, on the other hand, has done none of this, instead indulging in decentralised finance (DeFi). He does, however, see the meme currency rising to $1 – a figure that would value Dogecoin at over $128 billion.