Donald Trump's TRUMP memecoin has seen a drastic decline, dropping 75% from its peak due to a market-wide downturn triggered by new trade tariffs he announced against Canada and Mexico. Despite Trump's enthusiastic promotion of the TRUMP token on his social media platform, Truth Social, where he declared his love for the token, the market reacted negatively. The token hit a low of $19.09, significantly below its initial listing price of around $40 on major exchanges. The overall crypto market has also suffered, with Bitcoin dropping 6% and other major coins like XRP and Dogecoin falling over 25%. The volatility of celebrity-endorsed meme tokens is highlighted by this situation, showing that even high-profile endorsements can falter amid broader economic trends.

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