On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Dogecoin Price Predictions: Why Mark Cuban Thinks DOGE Will Hit $1
If you’re sick of Dogecoin (CCC:DOGE-USD), you’d better get used to it. DOGE has gained over 96% in the last seven day, and according to a certain bullish celebrity investor, it will be here to stay. Mark Cuban is pegging DOGE at $1, and he says its will set up shop there for the foreseeable future. Read on to see how Cuban’s prediction is shaping Dogecoin price predictions.
Cuban’s love of Doge has been growing since early 2021. He told the world that he bought some for his son to teach him about crypto. Since that educational investment, something has vastly grown his love of the coin. His NBA team, the Dallas Mavericks, accepts Dogecoin and other cryptos for ticket and merchandise purchases.
Seeing DOGE’s utility in action has inspired Cuban on Dogecoin. Yesterday at Decrypt’s Ethereal Virtual Summit, Cuban made the bullish Dogecoin price prediction: DOGE is destined for $1.
Not only that, but it will stabilize at the dollar mark. Citing the performance of the coin on the Mavericks’ e-commerce platform, he says that DOGE has an ease-of-use that makes it perfect as a stablecoin. “DOGE is becoming more of a utility in terms of currency,” Cuban said, noting that the high prices of Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) make a mess of their utility.
Mark Cuban Inspires Dogecoin Price Predictions
Cuban’s $1 price prediction lines up with other bullish assumptions. Coinpedia is suggesting DOGE could reach $1 as early as this year. DigitalCoinPrice is not quite there; they predict a 90-cent for DOGE price in 2021, but they believe it will breach the $1 mark in 2022. The Economy Forecast Agency thinks that it will fly beyond the dollar in 2021, ultimately passing $2 in 2021.
DOGE has been undergoing some correction since its price surge early in the week. After reaching its 69 cent all-time high, it dropped to nearly 50 cents before finding stability at the 60-cent mark, where it currently stands.