Trump's reserve announcement raised further questions over asset allocations, how it would be funded and how likely it is to be enacted.
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”. Related Reading: Dogecoin Cup And Handle Taking Shape – Big Move Incoming? 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” Related Reading: Long-Term Dogecoin Holders Are In “Denial” – On-Chain Metrics Expose Weakness 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. Featured image created with DALL.E, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Elon Musk’s social media platform X is reportedly in discussions to raise new investment at a $44 billion valuation. If successful, this would mark a major milestone for the company after its turbulent transition from Twitter to X, which saw significant advertiser and user departures. A Potential Comeback? Musk originally acquired X for the same …
The Elon Musk-led Department of Government Efficiency (DOGE) is targeting the US Securities and Exchange Commission (SEC) in its efforts to reduce waste in government spending. In a Feb. 17 post on X, DOGE urged individuals with knowledge of inefficiencies or unethical behavior at the SEC to come forward. The agency specifically invited direct messages, […]
The post Elon Musk’s DOGE solicits public help to tackle SEC inefficiencies appeared first on CryptoSlate.
Market watchers believe a clampdown on the U.S. Securities and Exchange Commission could turn out bullish for tokens previously targeted by the agency.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Elon Musk’s name change on X to “Harry Bōlz” sparked another memecoin frenzy on Tuesday before quickly fading away.
FDIC Acting Chairman Travis Hill said the agency is overhauling its crypto approach, just as U.S. senators examine regulators keeping banks out of crypto.
The move represents how crypto can facilitate independent charitable efforts, especially in uncertain times.
February 5, 2025 – Billionaire entrepreneur whose net worth has surged to $414.6 billion, continues to reshape industries with his companies spanning electric vehicles, space exploration, AI, and even government efficiency. Tesla & Bitcoin: Financial Powerhouses Tesla, valued at $1.2 trillion, has seen a significant rise in its stock price, particularly following the 2024 U.S. …
Elon Musk has accused career Treasury officials of breaking the law every hour by approving payments that either are fraudulent or do not comply with the funding laws passed by Congress. Musk’s statement calls for immediate action to halt such practices. In response to a question from Twitter user Mario Nawfal about putting the Treasury …
While most analysts agree that tariffs are negative for crypto in the short term, some argue they could benefit the market longer term.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Errol Musk, the father of tech billionaire Elon Musk, is backing a new memecoin called “Musk It” to raise between $150 million and $200 million for the Musk Institute—a newly established for-profit think tank focused on scientific research and innovation. According to a Fortune report, Errol Musk and his business partner, Nathan Browne, are leading […]
The post Elon Musk’s father wants to raise $200M for think-tank through ‘Musk It’ memecoin appeared first on CryptoSlate.
Errol Musk told Fortune he is now prepared to publicly endorse the token, which has gained over 200% in the last 24 hours.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Official Trump and Melania memecoins are now being accepted for payment on some Trump-branded product websites via a Solana Pay integration.
With the new rule, Tesla’s digital asset holdings grew to $1.076 billion at the end of 2024 from $184 million the previous quarter.
Also: SSV DAO Unveils “SSV 2.0”; Cardano Hard Fork
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Movement was reportedly one of the teams the Department of Government Efficiency representatives held conversations with about blockchain being used for government operations.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Representatives of the Department of Government Efficiency have spoken with leaders of several public blockchains, people familiar with the matter told Bloomberg.
While Musk argued that Ver shouldn't be pardoned, some members of the crypto community have come out in favor of Trump doing so.
US lawmaker Senator Elizabeth Warren has intensified her advocacy for responsible government spending and stricter crypto regulations. The senator outlined her vision for efficient federal operations in two separate letters and raised concerns over crypto-related ethical dilemmas. DOGE recommendations On Jan. 23, Warren wrote to Elon Musk, the head of the Department of Government Efficiency […]
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Recent developments suggest that crypto investors looking to catch the next quick 5x should be keeping an eye on the Dogecoin price. This is based on both technical and fundamental analysis, which proves that DOGE could record a 500% price surge from its current level. Analyst Predicts 500% Surge For The Dogecoin Price In an X post, crypto analyst Javon Marks predicted a 500% surge for the Dogecoin price, representing a 5x increase from its current level. The analyst explained that Dogecoin is back showing strength, and by its historical performance, DOGE can be set for an over 432% gain at the least from its current level. Related Reading: Dogecoin ETF Filing Takes Market By Storm, Can Positive Sentiment Trigger 200% Rise To $1 ATH? Javon Marks further remarked that the Dogecoin price could rally above the 1.618 Fib extension, which is currently at $2.2. In line with this, the analyst added that market participants could still be early, considering that DOGE could witness a 5x price increase from its current level. Crypto analyst Trader Tardigrade also recently predicted that the Dogecoin price could rally above $2. In an X post, the analyst stated that the meme coin had formed a bull flag on the 2-day chart. According to the analyst, this DOGE bull flag pattern puts a target of over $2 for the foremost meme coin. The crypto analyst had previously predicted that the DOGE price could even rally as high as $8 if it mirrors the 2017 bull run. He added that DOGE could also reach $30 if it mirrors the 2021 bull run. These projections further prove that the foremost meme coin could at least record a 500% price surge from its current level. Crypto analyst Master Kenobi has also previously predicted that Dogecoin could rally to $2 in this cycle and top around $3. Bullish Fundamentals Also Support A 5x Increase For DOGE The Dogecoin price also boasts bullish fundamentals, which support a 5x increase from its current level. One of the fundamentals includes the potential launch of a Dogecoin exchange-traded fund (ETF) in the US. Asset manager Bitwise recently filed for a Dogecoin ETF in Delaware, indicating that an application with the US Securities and Exchange Commission (SEC) may be next. Related Reading: Dogecoin ‘Power Of 3’ Pattern Enters Distribution Phase: Massive Bull Run Incoming? Asset manager REX Shares, in collaboration with Osprey, already filed with the SEC to offer a Dogecoin ETF. This is bullish for the Dogecoin price, considering the amount of institutional funds that could flow into the DOGE ecosystem if the SEC approves these funds. There is also a huge likelihood that the SEC will approve these funds, considering the pro-crypto climate under Donald Trump’s administration. It is also worth mentioning that there has been a huge accumulation trend among DOGE whales, which is also bullish for the Dogecoin price. IntoTheBlock data shows there has been a 41% spike in the meme coin’s large transactions, with $23.35 billion traded in the last 24 hours. Another bullish fundamental is Elon Musk’s Department of Government Efficiency (DOGE), which puts the foremost meme coin in the limelight. At the time of writing, the DOGE price is trading at around $0.35, down almost 4% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
On Jan. 21, OpenAI announced the Stargate initiative, a groundbreaking project to develop advanced AI infrastructure in the United States. Stargate initiative According to the firm, the project is planning an estimated $500 billion investment over four years, and the organization intends to allocate $100 billion upfront to accelerate its goals. The project focuses on […]
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Dogecoin has emerged as a focal point of conversation, even amid a sudden wave of meme coins linked to Donald Trump’s return to the spotlight. On-chain analysis firm Santiment, which recently shared a sentiment dashboard on X, notes that “the top trending tokens” are all about meme coins following the “historic US inauguration of Donald Trump.” In their latest post, Santiment emphasizes that “TRUMP is being discussed following its controversial listing on Coinbase, and the risks involved in investing during a volatile market,” while there is also “significant interest in airdrops of ‘TRUMP’ tokens, with a notable event securing $1M worth of tokens.” MELANIA, another meme coin tied to the Trump brand, has caused a stir by briefly surpassing a $9 billion valuation, although it has endured “substantial fluctuations amid broader market uncertainty.” Related Reading: Dogecoin Momentum Weakens: RSI Signals Bearish Continuation To $0.3 Meanwhile, Dogecoin’s surge in social media mentions is attributed by Santiment to the newly established US Department of Government Efficiency (DOGE) led by Elon Musk, as the project uses Dogecoin as its avatar. On January 21, the US Government officially launched the Department of Government efficiency (DOGE) website which has the official Dogecoin logo on it. “This initiative has sparked discussion as it intertwines cryptocurrency with government operations, generating buzz on social media. Additionally, discussions around the potential for new meme coins linked to public figures like Trump and Musk contribute to the speculation about Dogecoin’s future performance and relevance in the crypto space,” Santiment writes. Despite the sudden attention on TRUMP and MELANIA, Santiment’s sentiment breakdown underscores mixed feelings for both tokens. Regarding TRUMP, the post states: “The word ‘trump’ is trending due to discussions about the Trump Coin. Its price fluctuations, and the speculative nature of meme coins, users are debating the risks of investing in Trump Coin.” Santiment’s “positive” analysis points to “political influence and executive actions” as reasons for optimism, highlighting that “the anticipation of a crypto executive order from Trump has generated excitement among investors.” Related Reading: Will Dogecoin Skyrocket Soon? Chart Pattern Suggests Yes MELANIA’s sentiment likewise splits along bullish and bearish lines, with the negative view referencing a more than 70% drop from its initial peak price, and the bullish narrative noting “celebrity endorsement” from Donald and Melania Trump as a potential driver of renewed interest. Technical Analysis: DOGE Confirms Breakout At press time, Dogecoin (DOGE) was trading at around $0.367 after rebounding from a descending trendline dating back to early December. The breakout above the diagonal resistance occurred earlier this week, followed by a successful retest of the trendline yesterday, confirming it as new support. Following the retest, DOGE is now contending with the 0.5 Fibonacci retracement level at $0.3943, which marks the next major overhead barrier. A clear break of this resistance could open the door to the higher 0.618 Fib level at $0.4759 and the 0.786 Fib at $0.5920. On the downside, if DOGE fails to break the 0.5 Fib, the 0.382 Fib at $0.3129 may act as the most reliable support. Meanwhile, the Relative Strength Index (RSI) at around 51 remains neutral, reflecting balanced momentum and leaving room for a potential continuation to either side. Featured image created with DALL.E, chart from TradingView.com