After Elon Musk, Cuban comes out in favor of the meme coin.
Dogecoin (DOGE) is one of the most anticipated cryptocurrencies of the future. Back in 2017 and 2018, during the first big bull run of Bitcoin, the meme coin got the attention of being the potential competitor of the market deity, BTC. Now, a couple of years later, DOGE is up among the ranks as the top cryptos in the market; amongst Bitcoin, Ethereum, Cardano, etc.
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Recently, Billionaire Mark Cuban said that Dogecoin holds the potential to cross $1 price. He added that his NBA, Dallas Mavericks are now the largest Dogecoin merchant in the world. This shows that big investors are going big on the meme coin. As priorly, we have seen Tesla’s owner, Elon Musk helping DOGE’s price to an all-time high.
What’s Next?
Dogecoin is making a strong recovery as the bulls are coming in to take the charge. The Shiba Inu-based crypto has some strong bullish factors that could help the stock price jump. The primary factor is the market trend—Bitcoin’s bull run, and the remaining aspects are Dallas Mavericks using DOGE as payment means.
Cuban highlighted that they believe in Dogecoin and for the first time they have completed around 20,000 transactions in DOGE. This makes Mavericks the largest merchant of meme-based cryptocurrency.
Cuban in a tweet stated:
“We thank all of you and can only say that if we sell another 6,556,000,000 DOGE worth of Mavs merch.”
The Shark Tank host mentioned that if Cuban’s team sells merchandise worth another 6.5 billion Dogecoin, the meme coin can soar up to $1. As of Monday, DOGE was up by 8.69% trading around $0.055, almost $0.029 lower than its all-time high one month ago.
Earlier this month, Elon Musk tweeted “Doge meme shield (legendary item)”, alongside an image depicting dogecoin being protected from its “value dropping.” Though Dogecoin wasn’t able to hold onto the price. However, it’s pushing back once again.
Another big news for Dogecoin is the CoinFlip announcement; the ATM provider reported that DOGE can now be bought with cash across its 1,800-machine network.
Conclusion
Dogecoin’s price has been pushed by Elon’s strong support. With that being said, the latest Mark Cuban highlight can help the digital coin surge in the near term. Going into the long-term, let’s see how Musk and Cuban continue the support for the only meme coin.