<ul data-eligibleForWebStory="true">At a Ripple event, CEO Brad Garlinghouse admitted he was wrong about Dogecoin and its impact.During a discussion on meme coins, Garlinghouse acknowledged the market reality shaped by Elon Musk's advocacy.He previously dismissed Dogecoin as a parody asset unsuitable for engaging institutions in decentralized finance.Garlinghouse recognized Dogecoin's significant liquidity due to Musk's influence, making it a lasting part of the ecosystem.Despite his change of stance on Dogecoin, he still criticized meme-coin launches as 'get-rich-quick rug pulls'.Garlinghouse mentioned US Senator Elizabeth Warren's concerns about negative use cases of hype-driven projects.When asked to pick a meme representing crypto's chaos or brilliance, Garlinghouse chose Doge for its dual nature.Ripple president Monica Long highlighted the experimental role of dubious tokens in strengthening blockchains.Overall, Garlinghouse maintained his view that meme coins are overrated, but acknowledged Dogecoin's significant role.Dogecoin was trading at $0.201 at the time of the news.