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| Donald Trump Meme |
Donald Trump's meme coin, "Official Trump" (TRUMP), experienced a significant downturn following the White House's new tariff announcements.
According to CoinMarketCap, TRUMP's value fell to $9.34. This marks a sharp decline from its peak of $71, which it reached shortly after its issuance.
President Trump announced an executive order imposing a minimum 10% baseline tariff on all imports, effective April 5th. This measure is purportedly aimed at protecting domestic manufacturing.
Furthermore, he issued a proclamation outlining "reciprocal tariffs" of up to 54% on dozens of countries, including China, effective April 9th.
These tariff policies have sent shockwaves through the global financial markets. The S&P 500 index plummeted by 4.84% in a single day, while the Nasdaq Composite fell by 5.97%.
The digital asset market was also impacted, with the overall market capitalization decreasing by 6.5% within 24 hours.