Mark Cuban claims that Dogecoin might hit $1 as Dallas Mavericks accept payments in DOGE.
The billionaire stated that the price of the meme-currency Dogecoin (DOGE) might hit $1, after emphasizing that in only three days accepting DOGE payments in his NBA team, Dallas Mavericks, made around 20,000 coins in transactions.
According to him, this made the Mavericks the “largest dogecoin merchant in the world.” The “Shark Tank” star continued that if the team sells merchandise worth an additional 6.5 billion DOGE, the meme currency’s price might hit $1.
A month ago, the billionaire stated that Dogecoin is “the best entertainment bang for your buck available,” as anyone can buy $1 or $10 worth of the cryptocurrency and witness its price fluctuate, and discuss why its price movements occur. He said that “it is exciting and educational” for his son.
The cryptocurrency does not have intrinsic value according to Cuban, but it gives the holders “a better chance of winning than a lottery ticket all while teaching the economics of supply and demand and introducing people to cryptoassets.”
DOGE’s price has been going up in the past few weeks for many celebrities, among them is Tesla CEO Elon Musk, who have been tweeting about the cryptocurrency. Its market capitalization shortly surpassed $10 billion last month, at the same time in which Snoop Dogg, Gene Simmons, and others joined in the shenanigan.
The cryptocurrency community is known for taking on philanthropic projects, which involved helping charitable organizations. It made headlines in 2014 after raising over $25,000 worth of DOGE to let a Jamaican bobsleigh team participate in the Winter Olympics in Sochi.
In the past, Dogecoin has seen attempts to pump its price to $1. In July of last year, a video on TikTok from a user asking others to buy the cryptocurrency so that everyone can “get rich” on the platform has seen retail investors pile on the cryptocurrency again. Each was investing $25 to buy 10,640 DOGE, in a bid to fuel the cryptocurrency’s price to $1 and have over $10,000 as a result.
Early this year, hashtags retail investors have started eyeing the cryptocurrency in an effort to help it reach $1, following in the footsteps of the GameStop surge in a battle against short sellers. DOGE now trades at $0.056.
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