Donald Trump's tariffs wreak havoc as his own meme coin plummets by major amount
Even Trump's crypto coin tanked following the tariffs
One unexpected consequence of Trump's recent controversial worldwide tariffs plan has been his own crypto meme coin, as it saw a sharp drop following the announcement and is a fraction of where it was when it launched alongside the inauguration.
Donald Trump made an unprecedented move for an elected official when he released his own cryptocurrency - 'OFFICIAL TRUMP' or '$TRUMP' - to commemorate his second presidential inauguration on January 20, 2025.
Reports indicated that he'd invested around 80% of his net worth into the meme coin, and it's rapid surge in price in the hours following its launch made at least 500 Americans instant millionaires once they'd sold it at its peak price.
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Despite coming directly from the president himself, it was largely a flash in the pan like most meme coins and quickly dropped in price - not before being overtaken by a 'rival' coin from the First Lady Melania Trump herself.
In the months following the inauguration it was estimated that supporters of the president had lost around $12 billion following the collapsed value of the meme coin, but things were still yet to reach rock bottom.
While the collapse of the stock market and worrying signs for key American industries were on everyone's mind once President Trump announced shocking worldwide tariffs in what he called 'Liberation Day', anyone still holding onto $TRUMP might have had worse things to worry about.
Looking at $TRUMP's price history on CoinMarketCap, it's easy to see a vertical red line on April 2, 2025 - almost immediately after the president announced the controversial tariff plan than even included areas with a population of zero.
Its price went from $10.42 at 4pm EDT - when Trump was scheduled to announce the tariff plan - to $9.08 just an hour later in a sharp drop, and things continued to tumble in the week following.
The poor reception to the tariffs, Trump, and the market in general caused his meme coin to drop to an all time low of $7.26 on April 7, and it has since 'rebounded' to $7.90 following the official announcement that most tariffs have 'paused' for 90 days.
It shows how far reaching government policy can be when it comes to the market, and perhaps one of the best places to look when it comes to President Trump's favorability is actually his meme coin.
If someone was unlucky enough to buy $1,000 of $TRUMP at its $69.76 peak prior to the inauguration and is still holding onto it now, they will have lost 86.6% of their money, registering an $886.36 loss.