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Yesterday, March 2, US President Donald Trump announced the creation of a “strategic coding reserve” in the United States designed to strengthen America in the encryption sector. The reserve will initially include major cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana (Sol) and Cardano (ADA) – not Dogecoin (Doge). In the aftermath of this announcement, the broader cryptocurrency market increased by more than $ 300 billion in the market value, reflecting the enthusiasm of the great investors to support Trump’s encryption.
Does Dogecoin have an opportunity?
Despite the wide support for digital assets, Dogecoin was clearly absent from the Trump’s initial list of backup currencies. However, Dogecoin has seen a strong gathering, as it accommodated up to 16 % at one point before settling an increase of 7.5 % over the past 24 hours until the time of the press.
Add a touch of clouds to discussion, highlighting Shibetoshi Nakamoto (@billym2k), also known as Billy Markus and co -author of Dogecoin, local assets of the cryptocurrency. I jokingly tweet: “I just want to repeat that Dogecoin has been created in the United States of America, in Portland Oregon. Source: I.”
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The official Dogcoin account on X briefly responded to the discussion that reveals with the TERSE: “RealDonaldtrump, Bruh”. Within 15 minutes of these exchanges, Elon Musk’s reaction, known for its influence in the encryption space, with “the face with tears of joy”. It is still unclear whether Musk really supports the idea behind the DOGE that is included in the encryption reserves or if it is simply enjoyed by Meme.
😂
Elon Musk (@elonmusk) March 2, 2025
More comments from the encryption community added layers to the conversation. User X Antonio Zamudio hung on the situation, as he drew similarities with other industry characters such as Ripple and Cardano Charles Hoskinson who pressed their projects in the Crypto Reserve.
“I think Trump does not know about the presence of Dogecoin, as many CEOs for encryption are close to Trump, but although Elon is close to Trump, no one truly spoken to Trump about the encryption of Dogecoin, but he knows only about Dogecoin with Dogecoin with Trump. ELON exists, but I don’t think he spoke to Trump about Trump about Trump Crypto Dogecoin, because Elon only mocks Dogecoin.
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In a relevant perspective, Kevin (Kev_Capital_ta) Express More optimism about X: “With Eleon being the best comrades with Trump and their work at first to make America a great again, I have no doubt that Dukwin will be in the strategic reserve at some point. It is also possible that DOGE payments will come soon on X.”
It is worth noting that Trump’s announcement of the social truth hinted that the additional valuable “cryptocurrencies” can be finally combined into the reserve. The CEO of Cryptoquant Ki Young JU asked him under his secondary account x, Kate The Alt (Kate_young_ju): “What are the” other other encrypted currencies “in the American encryption reserve?”
What are the “other cryptocurrencies” in the US encryption reserve? pic.twitter.com/nksoop45b
– Kate the alt (kate_young_ju) March 2, 2025
Trump’s words in this announcement were unambiguous with regard to the basic components: “It is clear that bitcoin and ethereum, like other cryptocurrencies, will be the heart of the reserve. I also love bitcoin and ethereum.”
From the point of view of technical analysis, the market’s reaction to the news appears to have changed the dyncoin diagram. Before the announcement, Dog fell from the descending direction channel on the daily chart. However, after the revelation of the encryption reserve, Dogecoin is fresh in the channel and is currently testing the lower direction line – a decisive support level. The daily closure over this line will be necessary to confirm the bullish momentum.
At the time of the press, Dog was traded at $ 0.219.
Distinctive image created with Dall.e, Chart from TradingView.com
