Mark Cuban Says DOGE will Hit $1 and Become Stablecoin as Utility Increases

Billionaire investor, Mark Cuban, believes that Dogecoin is on its way to $1 and will also become a stablecoin. Cuban’s prediction is coming as DOGE is spiking continuously. In the last one year, DOGE has increased more than 23,000% and still keeps rising. Additionally, the meme-coin surged to reach a new record high of 60 cents a few days ago.

Additionally, DOGE recently became the fourth largest cryptocurrency by market capitalization. However, DOGE is now ranked fifth largest crypto, according to data by Coinmarketcap. At press time, Dogecoin is up 8.01% to $0.601. The coin’s market cap is over $77 billion. 

Speaking at the Ethereal Virtual Summit, Cuban said:

“I kind of think it might level off at $1 and become somewhat like a stablecoin, where you can use it, you can save it, it’s going to stay pegged. Now, for a while it will go down to 60, to 70 to 80 [cents]. But over the long haul, I think it might peg itself at $1, that’s my guess. But it’s only a guess.”

According to Cuban, DOGE is more of a currency than a digital asset. He said DOGE is easier for swift transactions. While speaking, Cuban also revealed that he has invested “a lot of money” in DOGE. 

Recently, an analyst predicted that DOGE will crash on the 8th of May.

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