Cuban Confirms Dallas Mavericks Still Accepts Dogecoin: Is DOGE Set for a Rise in 2024?

Dallas Mavericks owner Mark Cuban has confirmed that the NBA team continues to accept Dogecoin (DOGE) as a payment method. In response to a query from a user on X,” Cuban confirmed the integration exists with a “Yes.”

Do the Mavs still accept dogecoin?

— Sir Doge of the Coin ⚔️ (@dogeofficialceo) January 29, 2024

The original announcement dates back to March 2021, when BitPay integrated Dogecoin payments for merchants and consumers. The Dallas Mavericks, known for their early crypto adoption, were one of the first in the crypto-sports partnerships with the meme coin acceptance.

DOGE as a payment medium

Bitcoin became one of the payment methods for the Mavs in 2019.

The addition of DOGE allowed ‘Mavs Fans for Life or MFFLs’ to utilize Dogecoin to purchase game tickets and merchandise online, expanding accessibility to Mavs gear.

Continued acceptance of Dogecoin in 2024 leads to discussions about the meme coin’s growth potential this year. What is noteworthy in this discussion is Elon Musk’s recent mention of X’s integrated payments feature. The launch brings renewed attention to Dogecoin’s utility and integration into the payment ecosystem.

One of the major markets for DOGE has been India.

Kashif Raza from Bitinning pointed out in a post on X that within the 26-35 age group, DOGE has surpassed BTC. This is in terms of investments within a group that represents 40% of India’s 19 million crypto investors

Meme’s growth potential in price

At press time on Monday, Dogecoin (DOGE) was trading at ~$0.0812, showing a 24-hour increase of 3% on Token Terminal. Over the past week, it has experienced a 0.70% price uptick, while its 30-day performance shows a decline of 10%.

Over the last 180 days, it has seen a modest increase of 2.85%. The all-time high (ATH) for DOGE was $0.7316, still signifying price volatility. The circulating market cap of DOGE stands at $11.57 billion.

Doge’s price-to-fully diluted ratio is at a high 6,208.30x, signifying a substantial increase of 174.6%.  The P/F ratio compares its price to its potential future value.

Over the past 30 days, DOGE also generated fees totaling $151.46k, representing a significant decrease of 68.23%. The annualized fee revenue is recorded at $1.84 million, showing a minor drop of 1.90%.

Also Read: The Top Eight Must-Knows About Dogecoin

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Shraddha's professional journey spans over five years, during which she worked as a financial journalist, covering business, markets, and cryptocurrencies. As a reporter, she has placed particular emphasis to learn about the market interaction with emerging technologies.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.