Dogecoin Price Prediction: New Mark Cuban Support, Walmart Campaign Could Boost Doge Value

Mark Cuban surely isn't holding back in expressing support for Dogecoin, as he defended the meme token amid backlash from the Bitcoin community over his remarks that DOGE is "strongest as a medium of exchange."

While Cuban clarified not preferring Dogecoin over Bitcoin, given that they are "completely different" cryptocurrencies, the Dallas Mavericks owner stressed in a tweet on Sunday that saying "Doge doesn't have a place is wrong," CNBC reported.

Mark Cuban Reiterates Dogecoin's Unique Use Case Over Other Cryptocurrencies

The billionaire likewise acknowledged that while Dogecoin could be difficult to purchase, spend or trade, it has a distinctive use case over other crypto assets. This is because it can be used to acquire goods and services, thanks in large part to the cryptocurrency's strong backing from the community that advocates it. It is this Dogecoin community that strives to expand the mainstream use of the digital token.

Top U.S. retailer Walmart is also starting to embrace cryptocurrencies as a payment option, and while it has yet to announce what particular digital coins would be accepted, DOGE supporters are teaming up to push Walmart to choose Dogecoin as a payment method, Yahoo! Finance reported.

They have been emboldened by initiatives to have Dogecoin used for the payment of products and services, such as Cuban's recent announcement of a special summer pricing for Mavs merch if buyers use the rising cryptocurrencu. Cuban revealed that the Mavs accept many digital tokens for its merch, but he declared in a tweet that "95 percent of the sales are in DOGE."

Dogecoin Community Targets Walmart to Accept DOGE as Payment Option

Walmart is the latest establishment seeking to embrace the crypto space, as it announced job openings for a digital currency and crypto product lead--a clear indication that it would accept crypto payments soon. However, it has remained mum on the particular cryptocurrencies it would accept.

As such, the DOGE community is going all-out in having Walmart pick their beloved token as a payment option, given that the retailer's impressive fiscal Q2 results of $141 billion, up 2.4 percent year-on-year, Yahoo! Finance added in its report.

But what makes the Dogecoin community even more empowered is the strong price surge of the meme token of late. Dogecoin has reached $0.30 Tuesday in a massive boost from $0.20 over a week ago (per Coindesk), owing to Cuban's announcement last week to expand the use of the token to purchase Mavs merch. It, however, slid 4.9 percent in the last 24 hours.

With Dogecoin's impressive yet volatile performance, predictions to breach the $0.40 mark in the near term is not far-fetched, setting its course to become a viable payment alternative even to Bitcoin. And, having Walmart embracing Dogecoin would give it another immense boost going forward.