Dallas Mavericks owner Mark Cuban said on Sunday that the price of Dogecoin DOGE/USD "will definitely hit" the $1 level if transactions with the joke cryptocurrency by fans retain the momentum.
What Happened: The “Shark Tank” investor took to Twitter to reveal that Mavericks was now the largest DOGE merchant in the world.
Why It Matters: Last week, Cuban said Mavericks would accept DOGE as payment “because we can.” The basketball team’s tickets and merchandise then began to be sold for the Shiba-Inu-themed cryptocurrency.
There is a circulating supply of nearly 128.664 billion DOGE, according to CoinMarketCap data.
DOGE traded 11.13% higher at $0.054 at press time. The apex cryptocurrency, Bitcoin BTC/USD traded 1.98% higher at $50,526.12.
In February, Cuban said that DOGE was not a “bad look” for cryptocurrencies even as many expressed displeasure at Tesla Inc TSLA CEO Elon Musk’s frequent tweets on the joke cryptocurrency.
Hedge fund manager Michael Novogratz said last Thursday that Cuban is “making a mistake” by letting people pay with DOGE. “He’d be better off with 15 other different ways to pay for his tickets,” said Novogratz.
Benzinga contacted the Mavericks for further details on Dogecoin transactions. A response was awaited as of press time.
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