Mark Cuban: Dogecoin could hit $1 and become something like a stablecoin

Billionaire Mark Cuban, speaking at the Ethereal virtual summit, forecast that Dogecoin’s price would rise to $1.

“I think Dogecoin could level off at $1 and be something like a stablecoin. In the long run its price could be pegged at $1. That’s my guess,” the billionaire said.

According to Cuban, meme cryptocurrency is better suited than Bitcoin for facilitating transactions because it’s easier to use.

The billionaire also noted the advantage of unlimited issuance of Dogecoin. He is confident that an annual mint of 5.2 billion coins is a good thing.

“Because you can own it. You know the exact inflation rate that’s coming down, and that’s only 5.2 billion units per year,” added Cuban.

On May 8, the price of Dogecoin reached an all-time high of $0.74.

Earlier, Cuban outlined the advantages of Bitcoin, Ethereum and Dogecoin. He noted the growing popularity of the meme cryptocurrency.

Earlier in April, the billionaire called Robinhood’s policy an obstacle to Dogecoin’s growth.

In early April, Cuban revealed his cryptocurrency portfolio. The billionaire said he had 60% in Bitcoin, 30% in Ethereum, and 10% in other digital assets.

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