Dogecoin To Join Trump’s Crypto Reserve? Elon Musk Reacts

Jake Simmons

4 months ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Yesterday, March 2, US President Donald Trump announced the establishment of a US “strategic crypto reserve” designed to bolster 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 broader cryptocurrency market surged by over $300 billion in market capitalization, reflecting significant investor enthusiasm for Trump’s crypto endorsement.

Does Dogecoin Have A Chance?

Despite the wide-ranging support for digital assets, Dogecoin was conspicuously absent from Trump’s initial list of reserve currencies. Nonetheless, Dogecoin experienced a robust rally, spiking by as much as 16% at one point before settling at a 7.5% increase over the past 24 hours as of press time.

Adding a touch of levity to the discussion, Shibetoshi Nakamoto (@BillyM2k), also known as Billy Markus and co-creator of Dogecoin, highlighted the domestic origins of the cryptocurrency. He jokingly tweeted: “I just wanna reiterate that dogecoin was created in the USA, in Portland Oregon. Source: me”.

The official Dogecoin account on X responded succinctly to the unfolding debate with a terse message: “@realDonaldTrump, bruh.” Within 15 minutes of these exchanges, Elon Musk, known for his influential presence in the crypto space, reacted with the “Face with Tears of Joy” emoji. It remains unclear whether Musk genuinely supports the idea behind DOGE being included in the crypto reserve or if he is simply amused by the meme aspect.

😂

— Elon Musk (@elonmusk) March 2, 2025

Further commentary from the crypto community has added layers to the conversation. X user Antonio Zamudio remarked on the situation, drawing parallels with other industry figures like Ripple and Cardano founder Charles Hoskinson who have lobbied for their projects’ inclusion in the crypto reserve.

“I think Trump doesn’t know about the existence of Dogecoin, many Crypto CEOs have approached Trump, but although Elon is close to Trump, no one has really talked to Trump about the Dogecoin crypto, he only knows about DOGE the department of gov,” he stated and added “the irony is that we need a dogecoin representative to talk about dogecoin with Trump. Elon is there, but I don’t think he talked to Trump about crypto Dogecoin, because Elon only makes fun of Dogecoin. We need someone else close Trump talks about how good is Dogecoin. IMO”

In a related perspective, renowned crypto analyst Kevin (@Kev_Capital_TA) expressed more optimism on X: “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. Also DOGE Payments likely coming soon on X.”

Notably, Trump’s announcement on Truth Social hinted that additional “valuable cryptocurrencies” could eventually be incorporated into the reserve. CryptoQuant CEO Ki Young Ju, writing under his secondary X account, Kate The Alt (@kate_young_ju), questioned: “What are the ‘other valuable cryptocurrencies’ in the US crypto reserve?”

What are the ‘other valuable cryptocurrencies’ in the U.S. crypto reserve? pic.twitter.com/nKSoop45eb

— Kate The Alt (@kate_young_ju) March 2, 2025

Trump’s own words in the announcement were unambiguous regarding the core components: “Obviously, Bitcoin and Ethereum, as other valuable cryptocurrencies, will be the heart of the reserve. I also love Bitcoin and Ethereum.”

From a technical analysis standpoint, the market reaction to the news appears to have altered Dogecoin’s chart dynamics. Prior to the announcement, DOGE had fallen out of a descending trend channel on the daily chart. However, following the revelation of the crypto reserve, Dogecoin rebounded into the channel and is currently testing the lower trend line—a critical support level. A daily close above this line will be essential to confirm the bullish momentum.

At press time, DOGE traded at $0.219.

Dogecoin price — DOGE price, 1-day chart | Source: DOGEUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.