Crypto news
Trump meme coin dumped after tariff talk
Remember that meme coin associated with Donald Trump? Well, it's had a bit of a rough day. The value of the TRUMP coin has taken a 13% dip in the last 24 hours, currently sitting around $9.03.
Trump's Meme Coin Takes a Tumble After Tariff Talk
Uh oh, looks like there's some drama in the world of crypto! Remember that meme coin associated with Donald Trump? Well, it's had a bit of a rough day. The value of the TRUMP coin has taken a 13% dip in the last 24 hours, currently sitting around $9.03.
So, what's the cause of this downturn? It seems like the White House dropped a bit of a bombshell with the announcement of new tariffs. Trump signed an executive order putting a 10% tariff on all goods coming into the US, starting April 5th. And hold on, there's more! Reciprocal tariffs as high as 54% are also on the table for China starting April 9th.
These new tariffs caused a bit of panic in the global markets. The S&P 500 and Nasdaq took a hit, and it looks like the cryptocurrency market also felt the chill, with the total market value dropping by 6.5%.
Remember how the TRUMP meme coin caused some controversy when it launched back in January? Well, this recent price drop definitely adds another chapter to its story!
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