$TRUMP

Tariffs "Liberation Day" collapsed Donald Trump's official meme coin by 16% - explanation

- The #TRUMP  token started on Solana shortly before Trump's inauguration, and now the president has adopted it as his official token, repeatedly promoting it. This was seen as an important signal that the future administration will be more loyal to the crypto industry.

Thus, on the first day, the value of the cryptocurrency jumped to $ 15.18 billion. But it soon sagged by more than 64% to $ 5.42 billion after US First Lady Melania Trump launched her own #meme coin, subsequently linked to the issuers of the controversial LIBRA #token  .

After Liberation Day, TRUMP lost 15.4% to a market capitalization of $ 1.78 billion, according to CoinGecko data, with the lows recorded just three hours after the token's launch. Its decline outpaced that of other leading cryptocurrencies: #bitcoin  (BTC) lost 5.2 percent during the day, Ethereum (ETH) lost 6.5 percent and Dogecoin (DOGE) lost 9.8 percent.

Since taking office, President Trump has unleashed a trade war, promising to impose tariffs around the world.