The cryptocurrency world has once again come to the forefront due to the dramatic fall of the meme coin TRUMP, which has lost 37% of its value in the last seven days. TRUMP, once the second largest meme coin by market capitalization after Dogecoin, is now in fourth place, behind Shiba Inu and Pepe.
Tariff wars: how politics affected TRUMP
Last week, the President of the United States announced intentions to impose new tariffs on imports from Canada, Mexico, and China. This move caused panic in the markets, particularly in the cryptocurrency sector. TRUMP fell from $26.07 to $20.54 over the weekend as the market reacted to the news.
"This is just the beginning of a revolution," says the founder of the project, while the market waits in anticipation.
Recovery or new decline?
Despite a temporary suspension of tariffs on imports from Mexico, which gave a brief boost to TRUMP up to $19.86, news of Chinese tariffs quickly brought its value back down to $16.52. This is the lowest level since January, when the coin first appeared on the market.
Diving into the past: the history of TRUMP
TRUMP launched before the inauguration of the 47th President of the United States and quickly reached its all-time high of $73.43. However, subsequently, after the launch of the meme coin MELANIA, its value began to plummet. TRUMP has now lost 75% of its peak price.
What’s next?
Despite a sharp decline in trading volume to $2.46 billion, analysts remain optimistic about the possible recovery of TRUMP. However, whether this meme coin can regain its former glory remains a question.