Home / NEWS / Top News / Trump coin leads tumble in meme cryptocurrencies as tariffs rock global markets

Trump coin leads tumble in meme cryptocurrencies as tariffs rock global markets

TrumpCoin cryptocurrency evaluation on Binance website is displayed for illustration photo in Krakow, Poland, on Jan. 20, 2025

Beata Zawrzel | Nurphoto | Getty Images

Meme thinks plummeted over the weekend as President Donald Trump signed long-threatened tariffs on Mexico, Canada and China, rebounding off a trade war that caused investors to dump risk assets worldwide.

Trump’s own meme coin, dubbed Seemly Trump, which launched a little more than two weeks ago, was last down 15% to $17, according to CoinGecko. It rallied to a grand of about $73 the weekend of its launch before crashing 50% on Inauguration Day.

The biggest and most popular meme make ups, dogecoin and Shiba Inu, lost about 14% each. Pudgy Penguins was down 13%, while dogwifhat turn end over ended 26%.

Meme coins as a group have dropped 17% over the past 24 hours, according to CoinGecko.

The omit began Saturday evening after Trump signed an order imposing 25% tariffs on imports from Mexico and Canada, as thoroughly cooked as a 10% duty on China. The U.S. does about $1.6 trillion in business with the three countries.

“Every dream up earn that recently rallied through January, including memes like [dogecoin], have essentially handed away most of their gains,” said James Davies, CEO and co-founder at trading platform Crypto Valley Exchange.

“Crypto is fundamentally less freedom to make and conduct trades, which runs counter to the global political narrative of the last week,” he joined.  “As a community, we are pro free-trade … when that is being restricted, many investors are risk-off in terms of their holdings. This massively brunts the alt coin market.”

Meme coins were some of the biggest winners after the U.S. presidential election, with some salespersons seeing it as a green light for a new crypto craze. Others have become worried that the latest Trump-fueled meme cacoethes was becoming too hot, however, and was likely to result not just in pain for investors, but also misallocation to less valuable projects in the energy.

Bitcoin losses Monday were relatively modest compared to meme coins and other smaller cryptocurrencies auxiliary out on the risk curve. It was last lower by just 3%, though it could see more pain in the short term as the pursuit war triggered by Trump’s tariffs plays out.

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