The Official Trump meme coin plunged by over 15% following President Trump's announcement of major tariffs affecting 180 countries. This decline mirrors a broader cryptocurrency market slump, with Bitcoin and Ethereum also experiencing significant drops. Since its launch just before Trump's inauguration, the TRUMP token initially surged to a $15.18 billion market cap but later tumbled to $1.78 billion, coinciding with the launch of a competing meme coin by First Lady Melania Trump. Trump's new tariffs aim to address perceived long-standing unfair trade practices, impacting various nations with steep penalties. The economic fallout was swift, causing major stock indices like the S&P 500 to lose over $2 trillion in capitalization shortly after the announcement. The TRUMP token's sharp decline highlights its close ties to the President's trade policies, in contrast to more established cryptocurrencies' relatively moderate declines.

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