Dogecoin As A Payment Method – Will It Surge?

Sophia Cruz•Tuesday, January 30, 2024•1 min read

Mark Cuban, Dallas Mavericks’ owner reiterates that the NBA team will continue to accept Dogecoin (DOGE) as a payment method. This decision follows the team’s initial announcement way back in 2021 of using Dogecoins for transactions.

The Dallas Mavericks are known to be one of the pioneers in adapting digital currency within the sports industry with Dogecoin joining Bitcoin as an accepted payment method for their fans. When the Dallas Mavericks adopted Bitcoin (BTC) in 2019, and Dogecoin paved its way to be included as a payment method, it broadened the accessibility of the team merchandise and exemplified the NBA team’s engagement with its fans.

Dogecoin being in the payment landscape sparked discussion about the potential for the meme coin’s growth. In fact, one of the most important markets for Dogecoin is India. Dogecoin has gained support, particularly among the 26-35 age group surpassing BTC which is significant as it represents 40% of India’s 19 million cryptocurrency investors.

At this time of writing, DOGE is up by 1.05% in the last 24 hours trading approximately at $0.08131. Despite the fluctuations, Dogecoin’s market performance shows potential with a recent slight increase.

Although DOGE still remains below its ATH of $0.7316, it still shows lots of room for growth. Considerably, Dogecoin is still one of the best cryptocurrencies to buy this year. DOGE has a total market capitalization of $11.63 billion as of this writing and acceptance of DOGE as a payment method is rapidly growing. Not only is it easy to exchange for other cryptocurrencies but it’s also fast.

Moreover, DOGE could reach $1.16 by 2030 according to its price prediction making it one of the few meme coins to show huge upside potential.

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ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.