Is A Dogecoin Strategic Reserve Possible In The US With Trumps Win, Musks DOGE Department?
With a Republican supermajority in the United States, a Strategic Bitcoin Reserve is no longer a distant dream.
President-elect Donald Trump has explicitly stated his intention to help make Bitcoin a reserve asset in the United States and many pro-crypto lawmakers are already onboard.
However, Dogecoin co-founder Billy Markus has suggested creating a Strategic Dogecoin Reserve instead after changing its source code to tackle the unlimited token supply.
why not national dogecoin reserve tho https://t.co/jRh0b3rG7j
Shibetoshi Nakamoto (@BillyM2k) November 15, 2024
Is Strategic Dogecoin Reserve A Possibility?
Dogecoin co-founder Billy Markus is looking to make Dogecoin a reserve asset in the United States.
He also suggested that the DOGE source code could be changed to cap its unlimited token supply, eliminating all concerns of potential inflation.
so change the code to make an end
Shibetoshi Nakamoto (@BillyM2k) November 15, 2024
As such, Dogecoin has shed its joke status. Earlier this year, the top US-based crypto exchange Coinbase applied for Dogecoin Futures to the CFTC, claiming that the top meme coin is a staple of the cryptocurrency world.
This was before Donald Trumps re-election, which promises to provide significant regulatory clarity to the crypto industry. More importantly, the meme coins biggest public supporter is now set to play a key role in the new administrations.
The worlds richest man Elon Musk is set to lead the Department of Government Efficiency (D.O.G.E.), a new agency responsible for cost-cutting and reducing government spending. Musk remains a fan of Dogecoin, calling it the peoples cryptocurrency.
It is not without any reason that DOGE added nearly $38 billion to its market capitalization following Trumps win.
However, a Dogecoin Strategic Reserve remains little more than a pipe dream.
For one, even a Strategic Bitcoin Reserve isnt without its share of obstacles. Despite a Republican supermajority and Trumps promise of appointing pro-crypto leaders to key government positions, experts reveal that making BTC a reserve asset in the US simply isnt a major priority for Republican lawmakers.
CEO of Satoshi Act Fund Dennis Porter reveals that BlackRock will soon endorse creating a Strategic Reserve for BTC and several states may create a reserve before the federal government.
MASSIVE BREAKING: I can confirm that BlackRock is now endorsing a Strategic Bitcoin Reserve.
Dennis Porter (@Dennis_Porter_) November 19, 2024
And yet, Polymarket bettors are giving only a 34% odds of Trump successfully creating a Strategic Bitcoin Reserve in his first 100 days.
Unsurprisingly, making Dogecoin a reserve asset in the United States would be exponentially harder.
Dogecoin and New Meme Coins Will Still Offer Outsized Returns
Dogecoin doesnt need a reserve to deliver outsized returns in the upcoming supercycle.
There is a growing consensus that the Dogecoin price will hit $1 and surpass the $100 billion market cap in the coming months. Meanwhile, blue-chip meme coins like Pepe, Dogwifhat and Floki are expected to offer anywhere between 5x to 10x returns.
Even new meme coins are no longer just jokes.
Take, for instance, Pepe Unchained. The new meme coin is launching its own ecosystem, comprising a Layer-2 chain, a meme coin launchpad called Pepes Pump Pad and cutting-edge tools.
Pepe Unchained L2 Sneak Peek!What we're building is not just a new chain, but an entire ecosystem.Pepe Unchained L2Block ExplorerDEXBridgeAdvanced AnalyticsBuilder GrantsPepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
Pepe Unchained (@pepe_unchained) September 26, 2024
The project promises extremely low trading costs, instant transactions and new meme coin launches for its token holders.
Unsurprisingly, the meme coin has appealed to both whales and retailers alike, with one whale recently purchasing $320k worth of PEPU. It is not without any reason that Pepe Unchained has already raised nearly $39 million in its presale, with some prominent investors calling it the next 100x meme coin.
Another high-utility meme coin Crypto All-Stars (STARS) is in high demand and has already raised over $4.4 million in its ICO.
It is launching the first-ever multi-chain, multi-token staking platform, offering meme coin holders a unified platform for earning attractive staking rewards. MemeVault accepts 11 meme coins and STARS stakers will earn thrice the rewards.
Similar to PEPU, prominent investors believe that Crypto All-Stars could also offer 100x returns.
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Text source: Crypto Daily™
