Crypto – dogecoin is FOR USE! According to Ripple CEO


Tue 04/06/2024 ▪
3
min reading ▪ acc
Eddie S.

In the ever-changing world of cryptocurrency, controversy is never far away. Recently, Ripple CEO Brad Garlinghouse voiced strong criticism of Dogecoin (DOGE) at the Consensus 2024 conference, questioning memecoin’s contribution to the crypto industry.

Crypto Dogecoin Ripple memecoins

Ripple CEO Criticizes Dogecoin’s Utility!

Garlinghouse emphasized that cryptocurrencies should focus on solving real-world problems, which he believes Dogecoin is not doing. According to him, Dogecoin’s appeal is fueled by speculation rather than tangible use cases. This position is particularly important as the crypto industry struggles to gain legitimacy and regulatory acceptance.

Ripple’s CEO also addressed the speculative nature of cryptocurrencies like Dogecoin, stressing that the industry is still in its early stages and has yet to achieve widespread adoption and regulatory clarity. He suggested that the prevalence of meme-based cryptocurrencies is a barrier to wider adoption and ecosystem development.

Crypto must go beyond simple speculation!

Dogecoin, which started as a joke in 2013, has since amassed a significant following and reached an all-time high of $0.73. However, its value is largely based on a strong community, social media presence, and support from high-profile figures like Elon Musk. This is why, according to Garlinghouse, there are many crypto projects across different blockchains that, unlike Dogecoin, show significant utility. These practical solutions will drive long-term progress in the industry.

As an example of a crypto project that solves problems, Ripple itself functions as a cryptocurrency payment system that aims to offer an efficient alternative to traditional systems such as SWIFT.

Garlinghouse’s comments reflect a growing concern within the crypto community about the need to move beyond speculation and focus on creating real value. While Dogecoin and other memecoins continue to enjoy considerable popularity and recognition, the question of their long-term usefulness remains a hot topic of debate.

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Eddie S avatar

Eddie S.

The world is evolving and adaptation is the best weapon to survive in this wavy universe. Essentially a crypto community manager, I am interested in anything directly or indirectly related to blockchain and its derivatives. To share my experiences and raise awareness of a field that fascinates me, there is nothing better than writing articles that are both informative and relaxing.

DISCLAIMER OF LIABILITY

The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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