Mark Cuban says the Dallas Mavericks are the largest Dogecoin merchant in the world - and predicts the token's price could eventually hit $1

• Mark Cuban said the Dallas Mavericks are now the largest Dogecoin merchant in the world.
• The NBA basketball team has carried out more than 20,000 Dogecoin transactions, the billionaire said.
• The investor said if his team sells merch worth another 6.5 billion Dogecoin, the token's price could hit $1.

Billionaire Mark Cuban $4 on Saturday the Dallas Mavericks have completed more than 20,000 transactions in Dogecoin, making his NBA team the largest merchant of the meme-based cryptocurrency.

The "Shark Tank" host said if his team sells merchandise worth another 6.5 billion Dogecoin, the digital asset's price could hit $1. Dogecoin was last trading 8% higher at $0.055 per coin on Monday.

Cuban tweeted: "The @dallasmavs have done more than 20,000 #Dogecoin in transactions, making us the LARGEST #DOGECOIN MERCHANT IN THE WORLD ! We thank all of you and can only say that if we sell another 6,556,000,000 #DOGECOIN worth of Mavs merch, #dogecoin will DEFINITELY HIT $1 !!!"

The legendary investor's announcement came two days after he told DealBook the NBA's $4 as payment for tickets and merchandise. "Sometimes in business you have to do things that are fun," he said, explaining the team's decision.

Only a month ago, Cuban said Dogecoin has $4 but he bought some for his son anyway for educational reasons. "It gives you a better chance of winning than a lottery ticket, all while teaching the economics of supply and demand and introducing people to crypto assets," he said.

Dogecoin has got $4 from billionaire Elon Musk, rockstar Gene Simmons, and rap legend Snoop Dogg. The Tesla founder $4 when he tweeted "literally" along with an image of the meme-famous Shiba Inu dog. Musk posted another $4 about the asset over the weekend, saying: "Doge spelled backwards is Egod."