- Dogecoin has started the week with a 10 percent rise following Mark Cuban’s recent commentary where the billionaire described the coin as “the people’s way to pay.”
- The coin has also penetrated the world of sports with a sponsorship involving Stake.com and a Premier League team set to see the meme coin logo highlighted on the team’s jersey sleeve.
Dogecoin (DOGE) is back in the news again. After falling out of the spotlight in the last few weeks, the meme coin is back and pumping again. The token has marked its impressive return with a more than 40 percent increase in the last 7 days. Nearly 10 percent of this has come in the last 24 hours after billionaire Mark Cuban ‘shilled’ the coin on Twitter.
The Shark Tank co-host described DOGE as the strongest cryptocurrency for a medium of payment. Cuban lauded DOGE for its simplicity which allowed it to be used for spending or holding. Furthermore, still less than a dollar, it is one of the cheapest coins compared to other top coins like Bitcoin and Ethereum which go for thousands of dollars.
The point about DOGE that people miss is that DOGE's imperfections and simplicity are it's 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.
— Mark Cuban (@mcuban) August 15, 2021
For some time now, Cuban has been a fan of DOGE, joining the ‘Dogefather’ himself- Elon Musk. Mark Cuban’s support has seen him go as far as accept DOGE payments for his sports team- the Dallas Mavericks. The Meme is one of a few coins including Bitcoin (BTC) accepted by the sports team.
Following his latest comments, Cuban has been accused of shilling DOGE. But he has maintained that he is simply acknowledging that the meme coin has become a popular means of payment for goods. Addressing his accuser, he noted;
I don’t shill Doge. I shill the prods & services of my companies. Where we allow people to pay in ANY crypto, 95% of the sales are in DOGE. Customers CHOOSE to use DOGE. We can argue everything and anything re BTC, but right now DOGE is the people’s way to pay.
Dogecoin (DOGE) logo coming to the Premier League
The Premier League is back, and the newcomers Watford football club is set to exhibit the Dogecoin logo on its sleeves according to reports. This comes courtesy of a sponsorship deal with gambling company Stake.com worth a little under $1 million. The logo will be visible to thousands of returning fans who will be watching the team in the stadiums. It will further be exposed to millions watching the teams on their media devices all over the world.
This is not the first time that Watford has dabbled in the crypto world. In the 2019/20 Premier League season, a sponsorship deal with Sportsbet.io saw the team exhibit the Bitcoin logo on its sleeves. Unfortunately, this is the season that the team was relegated. With its return, the team is now set to sport a Dogecoin logo.
At the time of press, DOGE is exchanging for around $0.33 with a market cap of a little over $44 billion. It sits 7th place in the market rankings.