Dogecoin Price Prediction: Mark Cuban Gives Massive Boost to Meme Coin Over Bitcoin, Ethereum

Dogecoin got a massive boost Thursday after billionaire Mark Cuban announced a special summer pricing for those who choose to pay for Dallas Mavericks merchandise using the meme cryptocurrency.

Cuban previously revealed substantial sales since the NBA team he owns started to accept Dogecoin as a payment option for merchandise and ticket e-commerce sales.

He said in a tweet that the Mavs did "more than 20,000 Dogecoin in transactions" and became the "largest Dogecoin merchant in the world." Cuban further predicted that once the team sells over 6.5 billion Dogecoin worth of merch, "Dogecoin will definitely hit $1."

Because of this, Cuban further announced on Twitter last Thursday that the summer sale of Mavs merchandise will have "special pricing for those who pay with Dogecoin." The move delighted the community and the announcement garnered more than 8,000 likes and hundreds of comments, including a touching thank you note from Dogecoin co-creator Billy Markus.

Dogecoin Price Surges After Cuban Announces Mavericks Offer

The announcement pushed Dogecoin to surge nine percent to $0.29 in the last 24 hours on Friday, Coindesk noted. It came amidst a mostly volatile August, trading below $.20 only a few days back. As a result, investors are expecting Doge to break the $0.30 barrier very soon.

Cuban further justified the further adoption of Dogecoin in his team's merch and ticket e-commerce transactions, telling CNBC that the once-joke token is a "medium that can be used for the acquisition of goods and services." He added in the interview that "community for doge is the strongest when it comes to using it as a medium of exchange."

In another previous tweet, Cuban remarked that Dogecoin would be the "one coin" people would use for transactions.

The businessman never lost praise for Dogecoin even in tweets or media appearances. On "Ellen" in April, Cuban introduced cryptocurrencies to the show's 1.5 million average viewers. He described Bitcoin to the talk show's audience of mostly women under the age of 54 as a "digital version of gold," while Ethereum as a "digital version of a currency" (via Coindesk).

Dogecoin, Awesome Bet For Mainstream Use

But when he talked about Dogecoin, Cuban touted its "fun", "weird" yet amazing rise from being a joke cryptocurrency to becoming a legitimate digital currency, which is surely a portent of great things to come for the coin--particularly in mainstream use.

Use cases for Dogecoin have since expanded, with several consumer brands embracing it, Yahoo! Finance reported. Oscar Mayer released a "limited edition pack of Hot Doge Wieners" at 10,000 Dogecoins. Even worldwide consumer products giant Unilever offered physical "Dogecans" giveaways with its AXE brand.

Interestingly, "Dogefather" Elon Musk has yet to accept Dogecoin as a payment option for Tesla cars, but the automaker's CEO has hinted accepting it very soon, showing a survey in a tweet about how his 59.1 million followers overwhelmingly support it. Once this happens, investors could see DOGE to skyrocket even higher.