Ripple CEO Alters Stance on Dogecoin, SHIB Plunges 92%, Bitcoin STRD Exchange-Listed on Nasdaq: Condensed Crypto Update by U.Today
In a surprising turn of events, Ripple CEO Brad Garlinghouse has expressed a change in his opinion about Dogecoin. Previously critical of meme coins, Garlinghouse now sees Dogecoin as a significant player in the cryptocurrency market.
During his recent appearance at the Apex 2025 event, Garlinghouse acknowledged Dogecoin's growing significance and lasting presence in the crypto ecosystem. He now views Dogecoin as "more than just a joke," recognizing its high liquidity and the role it plays alongside more utility-driven projects.
Garlinghouse's shift in opinion is partly attributed to Elon Musk's continued endorsement of Dogecoin. He stated that Musk has "willed Dogecoin into so much liquidity that it’s not going away." Despite this recognition, Garlinghouse remains cautious, warning that the popularity of meme coins could overshadow serious crypto projects and hinder developers focused on practical blockchain applications.
It is worth noting that Garlinghouse has never personally invested in any meme coins, including Dogecoin, and continues to support utility-first cryptocurrencies like XRP.
Meanwhile, the Shiba Inu (SHIB) token, another popular meme coin, has seen a 56% drop over the past 30 days, according to IntoTheBlock data. This decline is accompanied by a persistent downtrend, as it failed to break past key resistance levels marked by major EMAs. Outflows for SHIB have also fallen sharply, suggesting that major players are on the sidelines or have already exited. Unless whale interest returns or bulls break key EMAs, the token may continue to drift lower.
At press time, SHIB is trading at $0.00001276, down 5.25% over the past 24 hours. The reduced whale participation raises concerns about liquidity and the potential for a short-term price rebound for SHIB. Furthermore, Shiba Inu has experienced a 92% decrease in large holder inflows over the past week.
As with any investment, it is recommended to conduct your own research and consult with financial experts before making any decisions.
On a separate note, Strategy, led by Michael Saylor, has grown into a $100 billion company through aggressive Bitcoin purchases. Strategy's Bitcoin-backed preferred stock, STRD, has recently launched on Nasdaq.
- Brad Garlinghouse, Ripple CEO, has recognized Dogecoin as a significant player in the cryptocurrency market, attributing its high liquidity to Elon Musk's continued endorsement.
- Garlinghouse, while acknowledging Dogecoin's presence, remains cautious about the popularity of meme coins like Dogecoin, as it could overshadow more utility-driven projects like XRP.
- Meanwhile, the Shiba Inu (SHIB) token, another popular meme coin, has seen a 56% drop over the past 30 days, raising concerns about its liquidity and the potential for a short-term price rebound.
- In technology and finance news, Strategy, led by Michael Saylor, has launched its Bitcoin-backed preferred stock, STRD, on Nasdaq, growing into a $100 billion company through aggressive Bitcoin purchases.
- It's essential to conduct thorough research and consult with financial experts when making trading decisions in the cryptocurrency market, given the volatility and potential pitfalls, such as modifications in key resistance levels and whale participation.
