- Mark Cuban does not expect another crypto winter, and the billionaire defended Dogecoin.
- Dogecoin posted a 6% drop over the past week; rival Shiba Inu had a massive rally driving SHIB to the top 12 cryptos.
- Dogecoin spin-offs have offered double-digit profits to holders over the past two weeks as DOGE hits a low.
Dogecoin-killer Shiba Inu had an explosive rally over the past two weeks while DOGE price dropped. Tech billionaire and DOGE proponent Elon Musk signaled a surprise Dogecoin update in a recent interview.
Dogecoin prepares to beat Bitcoin hands down with "super important" update
Mark Cuban, American billionaire entrepreneur and owner of professional basketball team Dallas Mavericks is a popular Dogecoin supporter. According to Cuban, Mavericks accept cryptocurrencies in exchange for their tickets, and 95% of their sales are in DOGE.
DOGE price has plunged nearly 6% over the past week, alongside SHIB's explosive rally to the top 12 cryptocurrencies by market capitalization. Crypto Twitter is critical of Cuban's support for DOGE and expects the memecoin's price to drop further.
In contrast, the billionaire recommends that users buy Dogecoin for "fun." Cuban shared his thoughts on Ethereum and stated that he wished he had bought Ethereum sooner; he believes it is the closest thing to "a true currency."
Memecoin traders have had a tough week as SHIB and other Dogecoin spin-offs posted double-digit gains. DOGE price dropped to $0.234, posting consistent losses throughout the week. Traders expect SHIB to flip Terra and compete with DOGE for market dominance.
Cryptocurrency trader and analyst @crypto_blkbeard tweeted:
$SHIB is coming for $DOGE pic.twitter.com/uP6Eua0E3y
— Blackbeard (@crypto_blkbeard) October 11, 2021
SHIB gained popularity as Dogecoin-killer, and its rising market capitalization has brought the two memecoins closer in ranking and popularity in the community.
FXStreet analysts have evaluated DOGE price to predict where the memecoin is headed next. The analysts expect a 70% rally in DOGE once it overcomes $0.25.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.