American businessman Mark Cuban has recently confirmed the ongoing Dogecoin acceptance by the Dallas Mavericks team. Elon Musk’s X payments launch adds momentum, fueling speculation on Dogecoin’s extended role.
Growing Acceptance of DOGE
The Dallas Mavericks are renowned for their active approach to cryptocurrency. The team accepted Bitcoin as a payment method in 2019 and later switched to Dogecoin in March 2021. The NBA team Dallas Mavericks, owned by Mark Cuban, remains at the forefront of crypto integration in the sports world.
Cuban confirms the ongoing acceptance of Dogecoin as a payment method, highlighting the team’s commitment to diverse crypto options.
DOGE outpaces Bitcoin in India’s 26-35 age group, revealing widening market appeal. Despite current DOGE price dynamics, optimism surrounds its potential for payments on X, elevating expectations for a price rally.
In a report from the previous week, on-chain metrics and social dominance supported a positive outlook for DOGE. In a broader context, Elon Musk’s X platform’s dedicated payments handle – ‘@xpayments’, triggers anticipation within the DOGE community.
Volume and social dominance indicators suggested a potential price recovery with increased activity and relevance. The possibility of DOGE being accepted on the platform increases speculation around the meme coin’s utility and mainstream adoption. Despite a slight decline in price the previous week, falling to $0.086, DOGE’s overall archetype remains strong.
As of January 21, the Dogecoin volume increased from 298.68 million to 1.17 billion.
Dogecoin, although not having reached $1.00 yet in January 2024, the acceptance and market presence keeps growing. Dogecoin’s acceptance by the Dallas Mavericks and its potential use on Elon Musk’s X platform as a mode of payment represents crucial steps toward mainstream adoption.