Tesla CEO Elon Musk‘s love for Dogecoin (DOGE) is the language of the entire cryptocurrency industry. DOGE, which achieved a rise of 1,000% and more in a short time, actually got into the language of people who are not in the crypto money industry with this recognition. Despite this, it is noteworthy that the DOGE price remained well below the $ 1, which is seen as the big target.
Of course, the two most important reasons behind the gradual decline of the DOGE price can be expressed as unlimited supply and the waning of Elon Musk’s interest. The news that the US Securities and Exchange Commission (SEC) will be investigating Elon Musk about his DOGE tweets caused Musk to stop his tweets.
Now, it is seen that another billionaire made ambitious statements about DOGE. Famous entrepreneur Mark Cuban, who owns the Dallas Mavericks team, hinted that he could get DOGE for up to $ 1. Cuban recently helped the giant NBA team sell tickets with DOGE. Although this decision has been criticized by many names, Cuban thinks it is much more useful than buying tickets with Bitcoin.
Will DogeCoin increase after Elon Musk and Mark Cuban?
Cuban also emphasized that DOGE will “definitely” reach a unit price of $ 1. Of course, for this, the current DOGE price must achieve an increase of at least 1,860% as of the time this article is written. This rate is much higher than the 1,000% rate seen before and seems impossible.
The sharp decline experienced after the DOGE price reached the peak, namely $ 0.089, actually sums up the situation. DOGE, which does not have any serious technology or a feature different from other cryptocurrencies, actually seems to have achieved a completely FOMO-focused rise. Nevertheless, the fact that famous teams such as Dallas Mavericks provide products or services in exchange for DOGE may be the solution for the famous crypto money.
If the DOGE price closes below the $ 0.05 level, it is predicted that this could bring down to $ 0.027 in the short term. Especially if an investigation into Elon Musk’s DOGE tweets is actually opened and other celebrities get into trouble for this reason, DOGE can directly live the fate of XRP.
Cuban’s response to his critics with the answer that DOGE is not a mistake shows that there is still a chance for DOGE.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.