Dogecoin To Join Trump’s Crypto Reserve? Elon Musk Reacts
Yesterday, on March 2, US President Donald Trump announced the establishment of a US “strategic crypto protection zone” aimed at enhancing the United States’ position in the cryptocurrency field. The reserve will initially include major cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana (Sol) and Cardano (ADA) – not Dogecoin (Doge). The wider cryptocurrency market has soared by more than $300 billion in market cap following this announcement, reflecting a huge investor enthusiasm for Trump’s cryptocurrency recognition.
Does Dogecoin have a chance?
Despite extensive support for digital assets, Dogecoin obviously did not have it in Trump’s initial list of reserve currencies. Still, Dogecoin experienced a strong rally, soaring as much as 16% a little bit before settling at a rate of 7.5% over the past 24 hours.
Some interest has been added to the discussion, shibetoshi nakamoto (@billym2k), also known as co-creator of Billy Markus and Dogecoin, highlights the domestic origins of cryptocurrencies. He joked: “I just want to reiterate that the dog was created in Portland, Oregon, USA. Source: Me”.
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The official Dogecoin account on X gave a concise response to the ongoing debate, with a brief message: “@realdonaldtrump, bruh.” Within 15 minutes of these exchanges, Elon Musk Influential existence In the encrypted space, the emoji’s “face full of joy” is. It is unclear whether Musk really supports the idea behind including Doge in crypto protection zones or that he is just attracted to the meme side.
😂
– Elon Musk (@elonmusk) March 2, 2025
Further comments from the crypto community add layers to the conversation. X user Antonio Zamudio commented on the situation, similar to other industry figures like Ripple and Cardano founder Charles Hoskinson, who lobbied for including their projects in the cryptocurrency reserve.
“I don’t think Trump knows about Dogecoin’s existence, many cryptocurrency CEOs are already close to Trump, but while Elon is close to Trump, no one has really talked to Trump about Dogecoin’s cryptocurrency, he only knows the Goff department,” he said, adding that ironically, we need to talk to the representatives of the dog to talk to Trump’s Dogecoin. Elon was there, but I don’t think he talked to Trump about the dongle (Crypto Dogecoin) because Elon only makes fun of Dogecoin. We need other people’s close Trump to talk about the benefits of domycin. IMO”
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From a related perspective, renowned crypto analyst Kevin (@kev_capital_ta) Express More optimistic about X: “With Elon being Trump’s best partner, they’re going to work to make the United States great again first, I have no doubt that Dogecoin will be in strategic reserves at some point. It’s possible to pay X is coming soon. ”
It is worth noting that Trump’s announcement about the Truth Society suggests that other “valuable cryptocurrencies” can ultimately be incorporated into the protected areas. CryptoQuant CEO Ki Young Ju, writing in his Secondary X account, Kate the Alt (@kate_young_ju), asked: “What are other valuable cryptocurrencies in the US crypto protection zone?”
What are the “other valuable cryptocurrencies” in the US cryptocurrency? pic.twitter.com/nksoop45eb
– Kate alt (@kate_young_ju) March 2, 2025
Trump made clear in the core component of the announcement: “Obviously, Bitcoin and Ethereum, as other valuable cryptocurrencies, will be at the heart of the reserve. I also like Bitcoin and Ethereum.”
From a technical analysis perspective, the market response to news seems to have changed Dogecoin’s chart dynamics. Doge stands out on the daily chart before an announcement was announced. But after the revelation of the crypto protection zone, Dogecoin bounced to the channel and is currently testing the lower trendline, which is a key support level. Daily approach above this line must be confirmed Bullish momentum.
At press time, Doge traded at $0.219.
Featured Images created with dall.e, Charts for TradingView.com
