Trump’s Memecoin Takes a Dive: Tariffs, Chaos, and the End of the World as We Know It!

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In a turn of events that could only be described as a cosmic joke, the value of President Donald Trump’s rather infamous memecoin has plummeted faster than a catapulted brick. This unfortunate nosedive coincided with the White House’s latest tariff announcements, which, let’s be honest, were about as welcome as a rainstorm at a picnic.

As of this very moment, the Official Trump (TRUMP) is trading at a staggering $9.03, which is down more than 13% in the past 24 hours. Yes, you read that right—13%! That’s like losing a sock in the dryer, but on a much grander scale.

In a move that could only be described as “bold” (or perhaps “slightly unhinged”), Trump signed an executive order on Wednesday that slapped a 10% baseline tariff on all imported goods entering the US, effective April 5th. The goal? To protect domestic manufacturing, of course! Because nothing says “I love my country” quite like making everything more expensive.

But wait, there’s more! He also issued a proclamation detailing “reciprocal tariffs” on dozens of specific countries, effective April 9th, with rates soaring up to 54% on China. That’s right, folks—54%! If you thought your last trip to the grocery store was shocking, just wait until you see your next bill.

The tariffs sent global markets into a tailspin, with the S&P 500 plunging by 4.84% on Thursday and the Nasdaq Composite dropping by 5.97%. It’s almost as if the stock market collectively decided to take a long, hard look at its life choices and promptly fainted.

Meanwhile, the crypto sector wasn’t spared either, with the overall digital asset market cap taking a 6.5% hit. It’s like watching a bunch of digital coins tumble down a hill, screaming all the way.

For those keeping score, Trump launched the Official Trump memecoin in mid-January, just days before he took office. It has since generated more controversy than a reality TV show reunion special. Ethereum (ETH) founder Vitalik Buterin even chimed in earlier this year, stating that political coins are “vehicles for unlimited political bribery.” Who knew crypto could be so… political?

In a February letter to the U.S. Department of Justice (DOJ) and the Office of Government Ethics, officials at the nonprofit consumer advocacy organization Public Citizen argued that Trump might be in violation of federal law regulating gifts to government officials. Because, of course, nothing says “I’m a responsible leader” like a memecoin that could potentially land you in hot water.

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2025-04-05 03:02