Trump's Crypto Surge: Dogecoin Rallies Despite Initial Snub

Coin WorldMonday, Mar 3, 2025 4:46 am ET

1min read

The cryptocurrency market experienced a significant surge on March 2, 2025, following former President Donald Trump's announcement of a US "strategic crypto reserve." While Dogecoin was initially excluded from the list of selected cryptocurrencies, the popular meme coin saw a notable price increase, reaching as high as 16% before settling at a 7.5% gain.

Trump's announcement outlined plans to include major cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, and Cardano in the reserve. The news catalyzed a broader market response, adding over $300 billion to the total cryptocurrency market capitalization.

The exclusion of Dogecoin from the initial list prompted a swift response from the cryptocurrency's community. Billy Markus, co-creator of Dogecoin, took to social media to remind followers of the cryptocurrency's American roots, stating, "I just wanna reiterate that dogecoin was created in the USA, in Portland Oregon. Source: me."

The official Dogecoin account responded to the development with a direct message to Trump's social media handle, simply stating "bruh." This interaction caught the attention of tesla CEO Elon Musk, who responded with a laughing emoji, though his exact stance on Dogecoin's potential inclusion remains unclear.

Market analysts have begun speculating about Dogecoin's future prospects in light of these developments. Technical analysis suggests that DOGE has maintained its position within a critical support zone between $0.16 and $0.19, which some analysts view as crucial for future price movement.

Crypto analyst Kevin expressed optimism about Dogecoin's future inclusion in the reserve, citing Musk's relationship with Trump as a potential catalyst. "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.

The possibility of additional cryptocurrencies being added to the reserve remains open, as indicated by Trump's announcement on Truth Social. The former president specifically mentioned that "other valuable cryptocurrencies" could be incorporated into the reserve alongside Bitcoin and Ethereum.

Current market data shows Dogecoin trading at $0.228427, representing a 10

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