Amidst a renewed wave of consideration and rising enthusiasm for the meme-inspired cryptocurrency, this integration has sparked discussions concerning the potential development of Dogecoin in 2024.
Cuban welcomed his practically 9 million X (previously Twitter) followers for an impromptu Ask Me Something (AMA) session on Monday afternoon.
Right here is certainly one of his finest cryptocurrency-related solutions.
Let’s do an AMA. Fireplace away.
— Mark Cuban (@mcuban) January 29, 2024
“Do the Mavs still accept Dogecoin?”
The billionaire answered merely, “Yes.”
Mavericks Lead In Crypto Acceptance
The Dallas Mavericks’ forward-thinking strategy in direction of digital currencies started in 2019 once they embraced Bitcoin as certainly one of their cost strategies. Nevertheless, it was their determination to combine Dogecoin that really captured the eye of the crypto group.
By permitting “Mavs Fans for Life” (MFFLs) to make the most of Dogecoin for buying recreation tickets and merchandise on-line, the Mavericks haven’t solely expanded accessibility to their gear however have additionally propelled Dogecoin into the mainstream as a viable cost medium.
Some of the intriguing points of Dogecoin’s acceptance in 2024 is its affect within the Indian market. Throughout the 26-35 age group, Dogecoin has surpassed Bitcoin when it comes to investments, capturing the curiosity of 40% of India’s 19 million crypto traders.
India has over 19 million crypto traders.
40% are within the age group of 26-35.
1st Rank: Dogecoin -> 11% are invested
2nd Rank: Bitcoin -> 8.5% are investedA lot effort is required when it comes to training!
— Kashif Raza (@simplykashif) January 29, 2024
This surge in reputation demonstrates the widespread enchantment of the meme coin amongst younger Indian traders, showcasing its potential to disrupt the standard monetary panorama.
Turning our consideration to Dogecoin’s price performance, the cryptocurrency is at present buying and selling at roughly $0.08, exhibiting a 24-hour enhance of practically 4%. Whereas its weekly efficiency reveals a modest uptick of 0.9%, its 30-day efficiency reveals a decline of 10%.
DOGE worth motion within the final 24 hours. Supply: Coingecko
Nonetheless, over the past 180 days, DOGE has skilled a gradual enhance of practically 3%, indicating a resilient presence available in the market. Only a mild reminder, although, that the all-time excessive for Dogecoin stands at a formidable $0.73, underscoring its inherent worth volatility.
DOGE at present buying and selling at $0.08117 on the each day chart: TradingView.com
Dogecoin: Metrics, Potential, World Impression
Digging deeper into the numbers, the coin’s circulating market cap sits at a considerable $11 billion. Furthermore, its price-to-fully diluted ratio (P/F ratio) has surged to a staggering 6,208.30x, representing a outstanding enhance of 175%. This metric highlights the numerous potential for future worth development that traders understand in DOGE.
As Dogecoin positive factors additional traction by the Dallas Mavericks’ ongoing acceptance and its surging reputation within the Indian market, the meme coin seems to be on the cusp of recent and thrilling prospects.
Featured picture from Freepik, chart from TradingView
