"Wow, why is Brad Garlinghouse so hurt by this dog meme."
Brad Garlinghouse, CEO of Ripple (XRP) while at the recent Consensus 2024 Conference opined that Dogecoin (DOGE) is not a good thing for the cryptocurrency market.
There's no denying that memecoin has been attracting a lot of attention from investors this year, but Garlinghouse says DOGE's performance has faded due to its lack of utility and overall development.
What makes the crypto market so interesting is its ongoing projects that target growth areas and provide different opportunities to various investors who are increasingly interested in the world of digital assets.
Even so, such diversity can create divisions among those who are trying their best to promote the prosperity of the crypto industry as a whole, commented Garlinghouse, adding that DOGE's influence is very negative.
Although Garlinghouse is not anti-DOGE, he still makes it clear that he still doesn't know what the actual use case for the dog-themed memecoin is.
For tech firms like XRP, committing to the accessibility of cross-border payments and the use of digital assets could be a point of contention when looking at DOGE and other memecoins that have been hyped up lately.
As of this writing, DOGE price has plunged by 0.14% to $0.14 in the last 24 hours with a market capitalization of over $20 billion then recording a 2.52% decline over the past week.
