Billionaire Mark Cuban reaffirmed to his Twitter audience that Dogecoin (DOGE) is still welcome as a payment method for Dallas Mavericks merchandise, tickets to the American Airlines Center, and other club-related products.
Following the news, Dogecoin claimed a daily high of $0.0827, returning to hover above the fundamental support line of $0.08. At press time, DOGE is changing hands at $0.0813 with less than 1% gains in the last 24 hours, according to CoinGecko. The stagnant price movement is also evident in the on-chain metrics, flashing two bearish and two neutral signals.
DOGE: Merchant For Mavs Strives For New Utility
Dogecoin and the Dallas Mavericks established a friendship in 2019 when the 2011 NBA Champions launched a ‘Mavs Fans for Life’ (MFFL) campaign to purchase tickets with cryptocurrency. Mark Cuban claimed that sales in DOGE skyrocketed by 550%, the Mavericks becoming the number one business accepting DOGE.
Back then, DOGE was trading in the price range of $0.001 – $0.003, a fraction of what Dogecoin’s (DOGE) price is now. Hitting an all-time high of $0.73 two years later, Dogecoin featured in fancy celebrity endorsements, like Elon Musk’s appearance as his Dogefather alter ego on Jimmy Fallon’s Late Night Show.
Currently, Dogecoin custodians, united in the community popularly known as the DOGE Army, are setting their sights on X’s new financial system. Since being acquired by tech mogul Musk, DOGE holders expect to see DOGE included in the peer-to-peer payment system.
The tech mogul’s vision aligns well with the DOGE Army’s expectations, as Musk debunked the theory of making a new coin for the all-in-one super app.
On the Flipside
In 2022, The Moskowitz Law Firm filed a civil suit against Mark Cuban for endorsing cryptocurrency to defraud investors. Besides legal troubles, Cuban has been a victim of a $900K crypto wallet hack.
The Shark Tank host allegedly succumbed to a phishing scam that drained his MetaMask wallet in minutes.
Why This Matters
Entrepreneurs supporting Dogecoin as a payment method have favored the top dog memecoin’s evolution over the years.
Source : DailyCoin by Tadas Klimasevskis / Jan 30, 2024