President Donald Trump's official meme coin surged 6% to a market cap of $1.8 billion on Tuesday after he announced a ceasefire between Iran and Israel in the early hours of Tuesday.
But it was not without complications.
Israeli Chief of Staff Eyal Zamir claimed that Iran immediately violated the ceasefire, according to the New York Times. Israel insisted it would respond "forcefully," which it did—while Trump urged the country not to violate the ceasefire.
Previously, Trump retweeted an article from conservative publication NewZMac, which claimed that his official meme coin served as an indicator of the president's performance and an alternative to opinion polls.
In this case, it may indicate that the public reacted positively to the supposed ceasefire that Trump helped organize and how he handled the breaches of the agreement by both sides.
"Israel. Don't drop those bombs," Trump wrote on Truth Social in capital letters, five hours after announcing the ceasefire. "If you do, it will be a big violation. Bring your pilots home, now!"
But it seems that Israel was not checking Truth Social before dropping those "bombs."
Trump spoke to the media, claiming that the country had "dropped a load of bombs, the likes of which we've never seen before," within hours of striking the deal.
"We basically have two countries that have been fighting so long and so hard that they don't know what the hell they're doing. Do you understand that?" Trump said in an explosive address to the media. Some political commentators believed he was showing strength, while others said it showed how angry he was about the situation.
Trump continued to post on social media. The president claimed that "Israel will not attack Iran," and that its planes would turn around and return home, giving "a friendly salute to Iran." He added that "Iran will never rebuild its nuclear facilities."
The proposed ceasefire comes in the wake of the conflict between Israel and Iran, which escalated when Israel launched a large-scale airstrike on Iran on June 13. Iran responded by firing its own missiles at Israel. Then, on Sunday morning, the United States intervened by bombing an Iranian nuclear facility.
Trump apparently thought this would be the end of the conflict, but Iran and Israel continue to fire missiles at each other.