Ripple CEO Brad Garlinghouse recently made headlines with his comments on Dogecoin (DOGE), the popular memecoin in the cryptocurrency world. During the Consensus 2024 conference, Garlinghouse expressed his belief that Dogecoin lacks practical utility and is hindering the progress of the cryptocurrency industry. Despite its substantial market capitalization of $23.22 billion, Garlinghouse emphasized that DOGE’s value lies primarily in speculative trading rather than genuine utility.
In a market where regulatory clarity is still lacking, Garlinghouse stressed the importance of addressing real-world issues within the crypto space. He cautioned against the proliferation of memecoins like Dogecoin, which he believes are impeding the sector’s growth.
Garlinghouse’s frank assessment of Dogecoin’s lack of tangible value has sparked debate within the crypto community. While he maintains that he is not against Dogecoin per se, he questions its purpose and utility in the broader context of cryptocurrency.
At present, Dogecoin is trading at $0.159, but Garlinghouse’s comments have raised questions about its long-term viability and impact on the industry. It remains to be seen how the market will respond to his critique of DOGE.
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