Trump's Pro-Crypto Comments Send Dogecoin Price Soaring

Dogecoin's price rose 2.14% over the past 24 hours to $0.0700, following Bitcoin's 1.56% gain during the same period.

The surge in prices comes after President Donald Trump renewed his support for digital assets in an interview with Punchbowl News, stating that 'crypto is a big deal' and emphasizing its increasing adoption in the United States.

Trump noted that more people are making daily payments with Bitcoin instead of cash, which he said could ease strain on the US dollar. He also stated that Washington needs to be competitive in the digital asset market, as China and other countries may take over.

Dogecoin ETFs saw a return of fresh inflows after July's slump, with spot DOGE ETFs attracting $82,640 in net inflows on August 5. However, outflows remain scarce, with just two negative flow days reported this year.