This is the 11511th most frequent Russian word.
дорожить
To value or cherish.
In this sentence, 'дорожить' signifies a sense of valuing or cherishing the mentioned object, which are 'friends'.
Я дорожу своими друзьями.
I value my friends.
Here, 'дорожить' is used to express cherishing or appreciating time spent with dear ones, indicating its importance.
Он дорожит каждой минутой, проводимой с семьёй.
He values every minute spent with his family.
In this context, 'дорожить' connotes a respect or appreciation for one's past achievements and experiences.