Dogecoin Jumps 16% After Trump Announces U.S. Crypto Strategic Reserve Despite Not Being Included in the Initial List

Despite not being included in the initial list of cryptocurrencies, Dogecoin has seen a sharp price increase following President Donald Trump's announcement of a U.S.

Dogecoin price rose sharply following the news of President Donald Trump announcing a U.S. Crypto Strategic Reserve, despite not including Dogecoin in the initial list of cryptocurrencies.

During the press conference on Thursday, Trump unveiled plans to establish a national cryptocurrency reserve that will initially include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The announcement triggered a market-wide rally, adding over $300 billion to the total cryptocurrency market cap in a show of investor enthusiasm.

As the dust settles on the news, Dogecoin (CRYPTO: DOGE) showed signs of recovery despite being excluded from Trump's initial announcement.

According to cryptocurrency market data, Dogecoin is currently trading at approximately $0.22, showcasing a 10.66% increase over 24 hours despite a 2.16% decrease over the past week. The 24-hour trading volume for Dogecoin stands at around $3.69 billion.

This price movement comes as several community members expressed their surprise over Dogecoin's absence from the president's plans. The meme coin is largely recognized for its close ties to billionaire Elon Musk, who has been actively promoting Dogecoin throughout the year.

"I just wanna reiterate that dogecoin was created in the USA, in Portland Oregon. Source: me," said Dogecoin co-creator Billy Markus, known as Shibetoshi Nakamoto on social media.

The official Dogecoin account also addressed Trump directly with a brief message: "@realDonaldTrump, bruh." This simple statement appeared to be calling for the president's attention to the cryptocurrency's absence from the reserve list.

Elon Musk reacted with a laughing emoji to these exchanges. Musk's response came within minutes of the community's appeals to Trump, though his exact stance on Dogecoin's inclusion remains unclear.

Some community members believe the exclusion might be due to a lack of awareness about Dogecoin. X user Antonio Zamudio suggested: "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."

Crypto analyst Kevin expressed more confidence, stating: "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."Elon being best buddies with Trump and them working hand over fist 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.

— Kevin (@Kev_Capital_TA) March 2, 2025

Trump's announcement did leave room for additional cryptocurrencies to be added later. The president mentioned that "other valuable cryptocurrencies" could eventually be incorporated into the reserve, stating: "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 perspective, Dogecoin had fallen out of a descending trend channel before the announcement. Following the news, it rebounded into the channel and is testing the lower trend line as support.

Analysts note that a daily close above this trend channel would be needed to confirm the bullish momentum. This technical factor, combined with the broader market sentiment, could influence Dogecoin's short-term price action.