TLDR
- Dogecoin saw a sharp 16% rally following Trump’s strategic crypto reserve announcement, despite not being included in the initial selection
- Current DOGE trading shows a 10.66% daily gain with $3.69B in volume, indicating strong market interest
- Technical analysts suggest potential upside to $4 pending support at $0.16-$0.19 levels
- Elon Musk and Dogecoin’s co-creator Billy Markus engaged in social media discussions about DOGE’s American origins
- Trump’s announcement triggered a broader $300B surge in crypto market capitalization
The cryptocurrency markets demonstrated their dynamic nature on March 2, 2025, as Dogecoin posted a remarkable 16% price increase despite being left off the initial list of cryptocurrencies selected for the newly announced US strategic crypto reserve.
Former President Donald Trump’s announcement sent shockwaves through the digital asset space, catalyzing a market-wide surge that added $300 billion to the total cryptocurrency market capitalization. The initial announcement highlighted Bitcoin, Ethereum, XRP, Solana, and Cardano as primary candidates for the reserve.
Trading data reveals Dogecoin’s current price at $0.228427, marking a 10.66% increase over the past 24 hours. Market activity has intensified, with trading volume reaching $3.69 billion, suggesting strong investor interest despite the cryptocurrency’s absence from the initial reserve list.
The announcement prompted Dogecoin co-creator Billy Markus to emphasize the cryptocurrency’s American heritage. Taking to social media platform X, Markus stated, “I just wanna reiterate that dogecoin was created in the USA, in Portland Oregon. Source: me.”
This declaration sparked a chain of social media interactions, including a response from the official Dogecoin account directly addressing Trump with a casual “bruh.” The exchange caught the attention of Tesla CEO Elon Musk, who contributed a laughing emoji to the conversation.
Trading Analysis
Technical analysis of Dogecoin’s market performance indicates a critical support zone between $0.16 and $0.19. Market observers suggest this range could serve as a foundation for future price movements, with some analysts projecting ambitious targets.
Crypto analyst Martinez has outlined a potential trajectory that could see Dogecoin reach $4, representing an approximate 1,900% increase from current levels. This projection would push Dogecoin’s market capitalization to roughly $575 billion, surpassing Ethereum’s present market value.
The cryptocurrency’s chart patterns have shown notable changes following the reserve announcement. Dogecoin has re-entered a previously established trend channel, currently testing key support levels on daily timeframes.
Social media commentator Antonio Zamudio highlighted the need for dedicated advocacy for Dogecoin’s inclusion in the reserve. “I think Trump doesn’t know about the existence of Dogecoin,” Zamudio noted, suggesting that despite Elon Musk’s connections to Trump, more focused representation might be necessary.
Analyst Kevin offered an optimistic perspective on X, citing the relationship between Musk and Trump as a potential catalyst for future inclusion. “With Elon being best buddies with Trump and them working hand over first to Make America Great Again I have no doubt in my mind that Dogecoin will be in the strategic reserve at some point,” he stated.
Trump’s announcement on Truth Social left room for additional cryptocurrencies to join the reserve, referring to “other valuable cryptocurrencies” that could be included alongside Bitcoin and Ethereum. His direct quote emphasized, “Obviously, Bitcoin and Ethereum, as other valuable cryptocurrencies, will be the heart of the reserve. I also love Bitcoin and Ethereum.”
CryptoQuant CEO Ki Young Ju, writing under the handle Kate The Alt, raised questions about the potential expansion of the reserve list, prompting discussions about selection criteria and timing.
Current market data shows Dogecoin trading well above recent support levels, though still 69% below its historic peak of $0.74 achieved in 2021. This context provides perspective on both recovery potential and market volatility.
The cryptocurrency’s daily chart analysis reveals strengthening momentum as traders assess the implications of the reserve announcement. Market participants are closely monitoring support levels and volume patterns for signs of sustained upward movement.
The community response has demonstrated the strong grassroots support behind Dogecoin, with social media channels active with discussions about potential inclusion in the reserve and the cryptocurrency’s American origins.
At press time, market indicators suggest continued strength in Dogecoin’s price action, with traders maintaining positions above key technical levels while awaiting further developments regarding the US strategic crypto reserve.
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