DOGE pumps 14% as American baseball team announces Dogecoin plans
Dogecoin (DOGE) is flying high today, having jumped 14% from its price yesterday, even as the cryptocurrency market remains under pressure, with the total market capitalization down by about $1 billion in the last 24 hours. The reason for the move? The Jackson Tides, a minor league baseball team with ties to Dogecoin, has announced plans to accept Dogecoin payments for tickets and merchandise.
The American baseball team the Cincinnati Reds has announced that it will accept Dogecoin alongside Bitcoin, Ethereum and Litecoin as payment for tickets and merchandise in 2017. “We are thrilled to be the first professional sports team to accept Dogecoin as a viable currency,” said Cincinnati Reds owner Bob Castellini. “I believe that by promoting and encouraging the use of Dogecoin, we can help the fans of the Cincinnati Reds come together.” The Dogecoin price has reacted positively to the news, rising by 14% to $0.0012, up from a low of $0.0007 the day before.
Dogecoin jumped 14% to an all-time high yesterday after the Oakland Athletics, a Major League Baseball (MLB) team, announced they would accept DOGE to sell pairs of tickets to the infield plaza.
The MLB is an American professional sports league that is one of the most popular sporting events in the world. Teams have already announced their own plans to launch the cryptocurrency, but yesterday’s DOGE announcement is one of the first such initiatives with a meme token.
The Athletics offered a bitcoin promotion earlier in the season where fans could purchase a full season ticket package for one bitcoin ($56,155 at the time) versus $64,800. But now he’s gone the way of Dogecoin.
Come to the stadium when the Blue Jays come to town! Plaza Infield double pods are available for 100 dogecoins for the entire series, the Oakland Athletics announced in a tweet. The Athletics are nine-time MLB champions.
Come to the stadium when the Blue Jays come to town!
Twin pods can be purchased in the Plaza infield for 100 dogecoins for the entire series.
Athletics’ sale of Dogecoin tickets comes at a time when other sports teams have had great success with similar promotions.
Dogecoin in sports
As we reported last month, the Dallas Mavericks USA basketball team is on the road until its 16th game of the season. In April, $122,000 worth of merchandise was sold with dogecoins, a 550 percent increase from March to April.
Mavericks owner Mark Cuban, who has recently become a big supporter of cryptocurrencies and the decentralized financial market (DeFi), said Memcoin (which is not currently in active development) could even hit the $1 mark, making it the third largest cryptocurrency, and estimated its market value at $129 billion.
Celebrities have also helped spread Dogecoin, with tech entrepreneurs like Elon Musk and porn star Mia Khalifa spreading it among their millions of Twitter followers in the past year.
Elon Musk says Dogecoin could be the future of cryptocurrencies https://t.co/6z57FBAGNy
– TMZ (@TMZ) 7. February 2021
In the meantime, it remains to be seen how other sports teams and events will incorporate Dogecoin into their preferred means of payment in the coming months. But are these movements motivated by memes or by capitalist culture? That’s for you to find out.
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