Brad Garlinghouse has walked back his once-harsh stance on DOGE, boosting the Dogecoin price outlook with institutional acknowledgment as a highly liquid asset.
Speaking at Ripple Apex, he claims the once-gimmick has become more than a meme coin, distancing itself from what he generalized as “get-rich-quick rug pulls” to become “part of the ecosystem. It plays a role.”
Citing Elon Musk’s continued endorsement, Garlinghouse said Musk “willed Dogecoin into so much liquidity that it’s not going away.”
While he did not entertain a partnership, the concession marks a notable shift for a figure long-positioned on the institutional end of the spectrum—opening the door for institutional acceptance.
With rising speculation around Dogecoin ETF approval, Garlinghouse’s comments may be seen as early validation, giving it more credit in the “best crypto to buy” conversation.
Dogecoin Price Analysis: Could Institutions Boost DOGE?
Even without a Ripple collaboration, Dogecoin may be on the breakout path, following a massive 4-year cup-and-handle pattern.
DOGE / USDT 1-week chart, cup-and-handle pattern confluence zone. Source: TradingView, Binance.
DOGE is currently consolidating within the descending channel forming the handle, but a fast approaching confluence zone could see a breakout unfold in the coming weeks.
Key support from the 0.236 Fib level and the historic support trendline that has underpinned every major DOGE bottom since September is set to intersect with the channel’s resistance.
The historic support that has marked DOGE bottoms since September could push a breakout as it intersects with the channel’s upper resistance, aligned with support from the 0.236 Fibbonnaci level.
A confirmed breakout would set a technical target around $0.75—a staggering 300% gain from current levels in line with the 1.618 Fibonacci extension.
The upcoming June 15 deadline for a US spot Dogecoin ETF decision could bring the catalyst Dogecoin needs, opening the doors to institutional inflows if approved.
Momentum indicators also point to retail inflows. The RSI has stabilized at 45 after dipping below the neutral zone, and the MACD is tightening, hinting at a potential crossover that could shift sentiment.
While the setup isn’t screaming bullish yet, it’s also far from bearish. This fragile balance suggests that any uptick in volume or sentiment could tip the scales.
If historic support becomes an accumulation base, DOGE could finally break the handle structure and resume its long-term uptrend.
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