Yesterday, on March 2, American president Donald Trump announced the creation of an American “strategic crypto” reserve designed to strengthen America’s position in the crypto sector. The reserve will initially include major cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana (Sol) and Cardano (ADA) – not Dogecoin (Doge). In the wake of this announcement, the wider market for cryptocurrencies increased by more than $ 300 billion in market capitalization, reflecting significant investors enthusiasm for the approval of Trump’s cryptography.
Does Dogecoin have a chance?
Despite the broad support for digital assets, Dogecoin was visibly absent from the initial list of Trump reserve currencies. Nevertheless, Dogecoin experienced a robust rally, increasing up to 16% at a given time before settling in an increase of 7.5% in the last 24 hours from press time.
Adding a touch of lightness to the discussion, Shibetoshi Nakamoto (@ Billym2k), also known as Billy Markus and co-creator of Dogecoin, stressed the domestic origins of cryptocurrency. He joked out: “I just want to reiterate that Dogecoin was created in the United States in Portland Oregon. Source: Me “.
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The official story of the Dogecoin on X responded briefly to the current debate with a laconic message: “@realdonaldtrump, Bruh.” Within 15 minutes of these exchanges, Elon Musk, known for his influential presence In cryptographic space, reacted with the Emoji “Face with Tears of Joy”. It is not clear if Musk really supports the idea behind Doge included in the crypto reserve or if it is simply amused by the same aspect.
– Elon Musk (@elonmusk) March 2, 2025
Additional comments from the cryptographic community added layers to the conversation. The user X Antonio Zamudio pointed out on the situation, establishing parallels with other industry figures such as Ripple and the founder of Cardano, Charles Hoskinson, who put pressure for the inclusion of their projects in the Crypto reserve.
“I think that Trump does not know the existence of Dogecoin, many CEOs of Crypto approached Trump, but although Elon is close to Trump, nobody really talked to Trump of the Dogecoin crypto, he only knows the department of Gov”, he said and added “irony is that we need a Dogecoin representative to talk about Dogecoin. There, but I don’t think he talked about Trump of Crypto Dogecoin, because Elon only makes fun of Dogecoin.
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From a related perspective, the Crypto Analyst renamed Kevin (@kev_capital_ta) expressed More optimism on X: “Elon being the best friends with Trump and they who work with hand first to make America again large, I have no doubt in my mind that Dogecoin will be in the strategic reserve at a given time. Also probable doge payments to come soon on x. “”
In particular, Trump’s announcement on Truth Social hinted that additional “precious cryptocurrencies” could possibly be integrated into the reserve. The CEO Cryptoque Ki Young Ju, writing under his secondary account X, Kate the Alt (@kate_young_ju), questioned: “What are the” other precious cryptocurrencies “in the American crypto reserve?”
What are the “other precious cryptocurrencies” in the American cryptography reserve? pic.twitter.com/nksoop45eb
– Kate the Alt (@kate_young_ju) March 2, 2025
Trump’s own words in the advertisement were unambiguous concerning the main components: “Obviously, Bitcoin and Ethereum, like other precious cryptocurrencies, will be the heart of the reserve. I also love Bitcoin and Ethereum.
From the point of view of technical analysis, the reaction of the market to news seems to have changed the dynamics of Dogecoin graphics. Before the announcement, Doge had fallen into a descending trend chain on the daily graphic. However, after the revelation of the crypto reserve, Dogecoin rebounded in the canal and currently tests the lower trend line – a level of critical support. A daily closure above this line will be essential to confirm the bullish.
At the time of the press, DOGE exchanged $ 0.219.
Star image created with dall.e, tradingView.com graphic
