Dogecoin Co-Founder Takes A Jab At Ripple CEO, Says DOGE Is 'Basically The Same As Bitcoin'
Portfolio Pulse from Mehab Qureshi
At the World Economic Forum in Davos, a panel called for more precise crypto regulation and questioned the utility of meme coins like Dogecoin. Ripple CEO Brad Garlinghouse expressed skepticism about Dogecoin's utility, while Dogecoin co-founder Shibetoshi Nakamoto defended it, comparing its fundamentals to Bitcoin. Dogecoin's price surged by 10% after the introduction of a specialized payment account, despite trading down 1.12% at the time of writing.
January 22, 2024 | 7:46 am
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NEUTRAL IMPACT
Dogecoin co-founder Shibetoshi Nakamoto compared Dogecoin to Bitcoin, suggesting they are fundamentally similar, which could indirectly affect Bitcoin's perception among investors.
While the comparison made by Dogecoin's co-founder may not directly impact Bitcoin's price, it could influence how investors perceive Bitcoin in relation to other cryptocurrencies like Dogecoin.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Ripple CEO Brad Garlinghouse's skepticism towards Dogecoin's utility could reflect on Ripple's stance on cryptocurrency utility and regulation, potentially affecting investor sentiment.
The CEO of Ripple's comments may not have a direct short-term impact on Ripple's price, but they could influence the broader market's view on Ripple's approach to cryptocurrency utility and the need for regulation.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Dogecoin co-founder defends the coin's utility, likening it to Bitcoin, amid a panel's skepticism. Dogecoin saw a 10% price surge after a payment account launch, despite a slight dip in recent trading.
The defense of Dogecoin by its co-founder and the recent price surge following the payment account announcement could bolster investor confidence, potentially leading to a short-term positive impact on its price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90