The run in Dogecoin DOGE/USD this year has been one of the hottest stories. People have reported huge gains in buying the meme coin early in the year and watching shares hit a high of $0.4377 in 2021.
The increase in the value of Dogecoin has been helped by tweets from Elon Musk, support from public companies and the Dallas Mavericks accepting the currency at games.
What Happened: A Tikok and FinTwit star known as Robinhoodkid recently bought tickets to a Dallas Mavericks game using Dogecoin. The purchase came after team owner Mark Cuban announced the team would accept Dogecoin as payment for tickets and merchandise. Robinhoodkid, whose real name is Kayla Kilbride, wanted to see if a person could really do this.
“The Mavs have been very forward. Specifically, Mark Cuban has been very forward of like, almost the ease of using Dogecoin to buy Mavs merch and tickets,” Kilbride told Business Insider.
As an owner of Dogecoin, using the earnings from the coin’s increase in value towards a Mavericks game “seemed like the right thing to do,” Kilbride tweeted. “I’m not just doing it for the sake of hype.”
Kilbride booked a flight to Texas before buying tickets to a Mavericks game. Tickets were unavailable and frustration over not being able to buy tickets using Dogecoin led to Kilbride reaching out to Cuban for help.
“It has been modified in order to provide some sort of, I would almost argue, educational value to the coin itself,” Kilbride said.
Kilbride called the experience remarkable in a tweet and is working on a video of the trip and game.
Kilbride recently joined Benzinga's "Power Hour" show and expressed some FOMO in regards to DOGE:
Don't let the FOMO get to you @robinhoodkidhttps://t.co/JEZ2nYjg6v...
— Benzinga (@Benzinga) April 16, 2021
Benzinga Power Hour w/ @LukeJacobihttps://t.co/VeSFTJ4DMP pic.twitter.com/yIuN7O64I8
Why It’s Important: Cuban is one of several prominent names that has been supportive of Dogecoin and likely helped the increase in value in 2021.
The Mavericks began accepting Dogecoin as a payment method in early March and have received over 122,000 Dogecoins with merchandise sales.
Cuban tweeted this week the Mavericks were on track to do more than 6,000 transactions using Dogecoin in April.
The move to accept Dogecoin as a payment option has helped boost awareness of the Mavericks and could also lead to fans and Dogecoin owners attending a Mavericks game to support the team that is supporting the meme coin.
Kilbride also joined the "Power Hour" back in February. The full interview can be watched in the video below:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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