Mark Cuban sees $ 1 in DOGE’s tea leaves
After just three days of Dogecoin (DOGE) being accepted as payment, Dallas Mavericks owner Mark Cuban predicts the token’s price will eventually reach $ 1.
In a Saturday tweet, Cubans said customers used more than 20,000 Dogecoin – about $ 1,018 at the time of publication – in transactions for the Dallas Mavericks, claiming the franchise is now “the world’s largest Dogecoin retailer” should basketball fans Buy Mavericks goods worth 6,556,000,000 DOGE. The price of the token would “definitely reach $ 1”.
The @dallasmavs have made more than 20,000 #Dogecoin in transactions, making them the BIGGEST #DOGECOIN DEALER IN THE WORLD! We thank you all and can only say that #dogecoin will definitely beat $ 1 if we sell more Mavs Merch worth 6,556,000,000 #DOGECOIN.
– Mark Cuban (@mcuban) March 6, 2021
The Mavericks were one of the first NBA franchises to recognize crypto as a means of payment for tickets and merchandise after they began accepting Bitcoin (BTC) through the wallet company BitPay two years ago. Mavericks fans can also pay for equipment and souvenirs with Bitcoin Cash (BCH), USD Coin (USDC), Gemini Dollars (GUSD), Paxos Standard (PAX) and Binance USD (BUSD).
Though DOGE was created as a hoax, it has soared in recent months when billionaires including Cuban and Tesla CEO Elon Musk mentioned the character on social media. Musk’s tweets likely contributed to the price of the token rising from $ 0.01 in January to an all-time high of $ 0.078. At the time of publication, the DOGE price is $ 0.0509, which means the token would have to increase 1,864% to reach $ 1.
The Dallas Mavericks owner previously described DOGE as an “economic teaching tool” and said the token was the “best entertainment bang for your buck” in the crypto market. Despite the surge in DOGE payments for the basketball franchise, the Cuban said he was still “having fun” and hadn’t changed his mind about the token.