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Dogecoin Gets Support from Billionaire, Mark Cuban

Popular meme token, Dogecoin is fast becoming a black horse in view of the latest comments from billionaire Mark Cuban. In an interview with media outlet, CBNC, Mark Cuban declared that Dogecoin is the ‘strongest’ cryptocurrency as a medium of exchange. As such, it trumps other cryptocurrencies in terms of unique uses. One of the reasons Cuban cited for his assertion is that it can be used to purchase goods and services.

Mark Cuban’s latest comment on Dogecoin is against the backdrop of reports that Dallas Mavericks, an NBA basketball team owned by Cuban, will soon begin its merch sale. The sale will feature payments in the meme token, which according to the billionaire, will give rise to discounts for fans who pay for the proposed merchs with Dogecoin.

Elon Musk Agrees with Mark Cuban

Following an update of the interview’s briefings on Twitter, Elon Musk- who now regards himself as ‘The Dogefather’- issued a tweet, totally in agreement with Mark Cuban’s opinion.

“I’ve been saying this for a while-”

August 15, 2021 – Elon Musk (@elonmusk)

Both billionaires have been at the frontlines in terms of support for Dogecoin. However, Elon Musk has been actively involved, both in the open and behind the scenes. His huge influence was responsible for Dogecoin’s meteoric rise to prominence and a new ATH of $0.74 back in May.

As expected, Mark Cuban’s comments seem to have drawn the ire of certain crypto enthusiasts who claimed he was shilling Dogecoin. Putting up a strong defense, Cuban claimed he has never had to promote the meme token as it has become a reckoning force within the crypto community. The Dallas billionaire declared that he only promotes his companies and the services they offer, which are mostly paid for in Dogecoin. According to Cuban, ‘Dogecoin is now the people’s way to pay.’

Dogecoin’s Price Surges

In light of Mark Cuban’s assertions and Elon Musk’s subsequent agreement, Dogecoin seems to have had an impressive run to a price mark of $0.33, which is the current price as of press time. The meme token is currently in the green, having gained 11% on the day. Before the recent market uptrend, Dogecoin was trading at the $0.21 region.

Even with the latest increase on its price, the joke token is still more than 50% short of its May all-time high. With Elon Musk’s support for the token still intact, prospects for its price are really high. A projection of $1 in the coming months is on the horizon for Dogecoin.

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