- Ripple CEO now sees Dogecoin as a lasting asset within the ecosystem despite not investing in meme tokens himself.
- Shiba Inu has lost over 92% in whale inflows this week, highlighting a sharp decline in major investor interest.
- SHIB continues to trade below key moving averages, suggesting ongoing market weakness and reduced confidence.
Ripple CEO Brad Garlinghouse recently shared updated remarks regarding Dogecoin at the Apex 2025 event. He acknowledged his past criticism of the meme coin but now considers Dogecoin a relevant part of the broader crypto ecosystem. While Garlinghouse clarified that he still has not invested in any meme tokens, he admitted that Dogecoin has maintained a consistent presence and utility within the space.
He emphasized that although meme coins might not align with long-term blockchain goals, they attract significant community engagement. This, he said, gives them a lasting place despite their speculative nature.
Meme Coins Raise Concern Over Market Focus
Garlinghouse also highlighted a broader issue involving the balance between entertainment-driven tokens and project-driven innovations. According to him, the growing attention to meme coins can sometimes overshadow development efforts focused on solving real-world problems.
His remarks come at a time when the cryptocurrency market continues to experience high volatility and shifts in investor interest. Dogecoin’s survival, according to him, reflects more about user behavior than about the coin’s technical foundation.
Shiba Inu Records Sharp Decline in Whale Activity
Meanwhile, Shiba Inu is facing growing pressure as on-chain data shows a significant drop in whale participation. According to analytics from IntoTheBlock, large holder inflows have plummeted by over 92% within a single week. The current trading price of SHIB is hovering near $0.00001276, reflecting a 5.25% drop over the past 24 hours.
The 30-day trend shows an over 56% decrease, signaling that whales are no longer accumulating. Additionally, outflows have fallen steeply, indicating reduced interest among major investors.
Market Conditions Point to Continued Uncertainty for SHIB
Technical indicators show SHIB has failed to maintain support above major exponential moving averages. This suggests a prolonged downtrend unless market sentiment shifts or whale activity returns.
Lack of significant whale participation may affect overall liquidity and further dampen the likelihood of a near-term rebound. The project now faces the challenge of regaining investor confidence amid these market conditions.
