Ripple CEO Acknowledges Dogecoin’s Role as Shiba Inu Faces Whale Exit

Ripple CEO Brad Garlinghouse has adjusted his perspective on Dogecoin, now viewing it as a persistent element within the cryptocurrency landscape, despite not personally investing in meme tokens.

However, Shiba Inu is experiencing a notable decrease in whale inflows, dropping by over 92% this week, signaling a significant reduction in interest from major investors. SHIB's price continues to trade below key moving averages, indicating ongoing market weakness and diminished confidence.

At the Apex 2025 event, Ripple CEO Brad Garlinghouse offered updated insights on Dogecoin. He acknowledged his previous skepticism towards the meme coin but now recognizes its relevance within the broader crypto ecosystem. While maintaining that he hasn't invested in meme tokens, Garlinghouse conceded that Dogecoin has demonstrated consistent presence and utility.

He emphasized that while meme coins may not align with long-term blockchain objectives, they generate substantial community engagement. This, he believes, secures their place in the market despite their speculative nature.

Meme Coins and Market Focus: A Balancing Act

Garlinghouse also addressed a broader concern regarding the balance between entertainment-focused tokens and innovation-driven projects. He suggested that the increasing attention directed towards meme coins can sometimes overshadow development efforts aimed at addressing real-world problems.

His comments come at a time when the cryptocurrency market is marked by volatility and shifting investor sentiment. Dogecoin's endurance, in his view, is more reflective of user behavior than the coin's underlying technology.

Shiba Inu Faces Decline in Whale Activity

Concurrently, Shiba Inu is encountering increased pressure, with on-chain data revealing a significant decline in whale participation. Analytics from IntoTheBlock indicate that large holder inflows have plummeted by over 92% in a single week. SHIB's current trading price is hovering around $0.00001276, reflecting a 5.25% decrease over the past 24 hours.

The 30-day trend reveals a decrease of over 56%, indicating reduced accumulation by whales. Furthermore, outflows have also decreased sharply, suggesting diminished interest among major investors.

Market Conditions Suggest Continued Uncertainty for SHIB

Technical indicators show that SHIB has failed to maintain support above key exponential moving averages. This suggests a sustained downtrend unless market sentiment improves or whale activity resumes.

The absence of significant whale participation could negatively impact overall liquidity and further decrease the likelihood of a near-term recovery. The project now faces the challenge of restoring investor confidence amidst these challenging market conditions.