Self-proclaimed \u201cDogefather\u201d Elon Musk<\/a> isn’t the only billionaire singing praises for dogecoin<\/a>. Famous entrepreneur and investor Mark Cuban<\/a> is also on the cryptocurrency’s bandwagon.<\/p>\n<\/div>\n

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Cuban\u2019s Dallas Mavericks NBA team has been accepting dogecoin for merchandise sales since Mar. 2021. On Mar. 6, the organization already had more than 20,000 in dogecoin transactions, prompting Cuban to claim it was the “largest dogecoin merchant in the world” on Twitter.<\/p>\n<\/div>\n

Last week, Cuban announced on Twitter that the Mavericks would offer special pricing during their summer merchandise sale for customers who pay with dogecoin.<\/p>\n<\/div>\n

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\u201cThe point about DOGE that people miss is that DOGE’s imperfections and simplicity are its greatest strengths. You can only use it to do 2 things: Spend It or HODL It. Both are easy to understand. And it’s cheap to buy. Which makes it a community anyone can join and enjoy,\u201d Cuban tweeted on Aug. 15.<\/p>\n<\/div>\n

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Mark Cuban thinks dogecoin is the strongest crypto as a medium of exchange<\/h2>\n
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When CNBC reported last week about Cuban\u2019s infatuation with dogecoin<\/a> and how he thinks it\u2019s the “strongest\u201d crypto available as a medium of exchange, Musk\u2019s reply was basically “tell me something I don\u2019t already know.”<\/p>\n<\/div>\n
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\u201cI\u2019ve been saying this for a while,\u201d Musk tweeted.<\/p>\n<\/div>\n
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Elon Musk is a long-time fan of DOGE<\/h2>\n
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Musk has been a longtime fan<\/a> of the meme-inspired crypto. His myriad tweets in support of dogecoin he made in Apr. 2021 before his appearance on Saturday Night Live<\/em> caused the crypto\u2019s price to skyrocket to a high of over 73 cents.<\/p>\n<\/div>\n
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Musk also polled his Twitter followers in Feb. 2021 on what they would choose as \u201cthe future currency of Earth.\u201d Dogecoin came out the clear winner, with over 71 percent of those who voted.<\/p>\n<\/div>\n
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Dogecoin gets its name from the \u201cDoge\u201d meme, which depicts a Shiba Inu dog. Started in 2013 as a joke, it’s now the seventh-largest digital coin in the crypto market and has a total market value of about $42 million, according to CoinGecko.<\/p>\n<\/div>\n<\/section>\n
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Some analysts remain skeptical about dogecoin <\/h2>\n
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With support from Musk and Cuban, DOGE has gained over 9,262 percent within the last year. However, analysts aren\u2019t sold on dogecoin, which can be pretty volatile. After reaching 73 cents in May following Musk\u2019s supportive tweets, the coin fell to a low of about 16 cents in July. It\u2019s bounced back since then and, on Aug. 16, was priced at almost 34 cents.<\/p>\n<\/div>\n
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Musk reportedly has been working with dogecoin developers to improve the system’s transaction efficiency.<\/p>\n<\/div>\n
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