The CEO of Ripple Labs described meme coins as having 'overvalued' worth, but excluding Dogecoin from that has raised speculations about his views. Is the price of DOGE about to rise soon?
Brad Garlinghouse, the CEO of Ripple, has softened his hostile stance towards Dogecoin (DOGE), which has enhanced its price outlook as it has gained institutional acclaim as an asset with strong investment liquidity; speaking at the Ripple Apex event, he claimed that what many perceive as merely a manipulation tool has become more than just a meme coin, retracting his classification of it as one of the 'fraudulent rug-pulling practices for quick wealth', describing it as having become 'a cornerstone of the sector's technological system and playing a pivotal role.' Referring to Elon Musk's ongoing support for the meme coin leader, Garlinghouse stated that Musk supported 'Dogecoin with strong and sustainable liquidity.'
'I used to speak not so kindly about Dogecoin… was created as a joke, right?' ~ #Ripple CEO @bgarlinghouse pic.twitter.com/pEB91t3KiP
— The Crypto Times (@CryptoTimes_io) June 12, 2025
Although he did not touch upon the idea of a partnership, his new stance reflects a clear shift in the position of a figure who has long served as a face for the institutional sector, which may pave the way for increased institutional adoption. As speculation rises regarding the approval of the Dogecoin exchange-traded fund (Dogecoin ETF), Garlinghouse's comments may be seen as a prelude to its realization, cementing its position in discussions of 'the best cryptocurrencies to buy.'
Dogecoin Price Forecast: Can Institutions Give DOGE a Strong Boost?
Even without collaboration with Ripple, the price of DOGE may be on its way to experiencing a wave of increase due to its continued movements over four years forming the promising cup and handle technical pattern.
A chart showing the weekly price movements of the DOGE/USDT pair illustrates its approach to breaking the cup and handle technical pattern, source: TradingView/Binance. Currently, the price movements of DOGE are relatively stable within the descending channel formed for the handle portion, while the quick approach to the convergence area reflects the possibility of a price surge in the coming weeks.
The main support level that coincides with the Fibonacci retracement level of 0.236 and the extended support trend line has prevented the price of DOGE from falling every time it touched it since September, but it is currently about to intersect with the resistance barrier of the price channel, suggesting that a strong breakout may push the price to reach the breakout target corresponding to the Fibonacci extension of 1.618 at $0.75, which would then provide abundant gains of 300% compared to current levels.
Perhaps the anticipated deadline on June 15 regarding the decision to create a Dogecoin Spot ETF in the United States is the awaited impetus for this surge, which would open the door for strong institutional investments if approved.
#Dogecoin awaits eagerly for SEC ETF rulings in June.
Approval odds near 80%. pic.twitter.com/nD3d0bvkmF
— dogegod (@_dogegod_) June 12, 2025
Additionally, momentum indicators reflect incoming investments from retail investors as the Relative Strength Index (RSI) reading stabilizes at 45 after retracting from the mid-range, and the MACD indicators are close to crossing, indicating a potential gain in momentum.
While the technical price settings for DOGE have not yet given a decisive buy signal, they remain far from negative, especially as this fragile balance suggests that any sudden increase in trading volumes coupled with an improvement in the general sentiment could tilt the scales. If the extended support level shifts to a consolidation base, the price of DOGE may finally be able to complete the handle portion and resume its long-term upward trajectory.
