Mark Cuban has Dogecoin merchants barking.
The cult cryptocurrency’s value jumped Monday after the billionaire “Shark Tank” investor claimed his Dallas Mavericks NBA staff might assist push it as much as $1.
Cuban took to Twitter over the weekend to disclose that the Mavericks had dealt with greater than 20,000 Dogecoins — or about $1,109 — in transactions inside two days of asserting that the staff would accept the coin as payment for tickets and merchandise.
That made the Mavericks “the LARGEST #DOGECOIN MERCHANT IN THE WORLD!” Cuban crowed in a Saturday tweet.
The 62-year-old entrepreneur added that the meme-inspired foreign money’s value “will DEFINITELY HIT $1” if Mavericks followers purchase one other 6.5 billion Dogecoin value of merchandise. That might be equal to roughly 5 % of all of the Dogecoin presently in circulation, according to CoinDesk data.
Dogecoin was nonetheless a good distance off from the $1 mark even after its early-morning spike. The coin — which was began as a joke in 2013 — was buying and selling at about 5.5 cents as of seven:22 a.m., 7.6 % increased than a day earlier however roughly 36 % beneath the all-time peak of 8.7 cents it reached final month.
Cuban wasn’t the one particular person on-line speaking up Dogecoin, whose value actions are sometimes influenced by social media chatter.
“#DogecoinRise” turned a trending subject on Twitter Monday morning because the coin’s value bounced following every week of muted buying and selling.
The excitement got here after eccentric software program entrepreneur John McAfee claimed Dogecoin had performed a task within the federal indictment prosecutors brought against him last week for allegedly working two cryptocurrency scams.
The feds accused McAfee of raking in about $2 million by promoting his holdings of so-called altcoins after artificially inflating their costs by tweeting about them. McAfee argued on Sunday that Dogecoin’s latest rally proved his earlier tweet about it was “not a pump and dump.”
“For a number of days in 2017 I selected cash I believed had worth. One in all them was Doge – now being touted years later by Elon Musk,” McAfee said on Twitter, referring to the billionaire Tesla chief who has driven up Dogecoin’s price together with his personal tweets. “The coin has elevated nicely over 1000% since I selected it.”