On March 6, billionaire investor Mark Cuban said on Twitter that he could see a way to bring the price of the Dogecoin ($ DOGE) meme cryptocurrency to $ 1; now, a financial research firm says it is even possible that the price will reach 10 USD.
The Cuban is the majority owner of the Dallas Mavericks professional basketball team, as well as one of the “sharks” from the popular reality show “Shark Tank” (broadcast on the ABC television network).
Throughout 2021, two billionaires – Elon Musk and Mark Cuban – helped the price of Dogecoin grow by more than 1100% (from $ 0.0047 to $ 0.0568) and its market capacity reaches 7.3 billion dollars (making DOGE currently the 17th most valuable cryptocurrency by market capitalization), talking, on numerous occasions, about why they like this cryptocurrency.
On February 8, he revealed what he had said when a Forbes report recently asked him about Dogecoin and whether its popularity with retail investors was a bad thing.
On March 4, cryptocurrency processor BitPay announced that it has begun allowing merchants to accept Dogecoin for payments and that the Dallas Mavericks will be the first to accept Dogecoin.
Two days later, the Cuban delighted Dogecoin owners everywhere, when he said that his NBA team received over 20,000 orders paid with Dogecoin and that if it managed to sell another 6.55 billion DOGE in goods, the price Dogecoin could reach 1 USD.
Well, on Friday (April 2nd), independent financial research firm InvestorPlace published an article entitled “Inflation and Influences: How Investors Can Send Dogecoin for $ 10”.
The report began by saying:
“Even without inflationary changes, the price could reach $ 1. The cryptocurrency has 130 billion coins remaining; a price per coin of 1 USD will still leave it with 55% of the size of Ethereum …, the second largest crypt in the world. And because only marginal trade matters in setting asset prices, even a few major account holders could theoretically pass on rising values.“
Then he talked about inflation:
“Inflation will also become a minor issue over time – the result of a flat reward divided by a growing capital base. By 2040, the Dogecoin inflation rate would have dropped to just 2.4%, or about the same as the US dollar today. By 2060, it would be 1.6%, which makes it deflationary against the dollar... However, sending Dogecoin to $ 10 will require an even more significant change: moving to a deflationary system earlier than 2060.“
The report then explained what was needed to allow the Dogecoin price to reach $ 10 a day:
“If investors want to send Dogecoin prices to $ 10, it takes much more than buying the coin and posting tweets. He needs a benefactor to help fund the improvements.
“The currency already has some well-known supporters. On Thursday, Elon Musk promised to literally send the coin a month on a SpaceX rocket. It could have an even greater impact by setting up a “Dogecoin Foundation” to finance development and promote adoption among businesses and enterprises. So far he has avoided this, blaming the “Dogecoin Whale”. Ordinary investors can help by contributing, rather than following developers.
“Dogecoin at $ 10 is more than a dream – it’s a possibility that’s just around the corner, if the community joins in one day.“
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