Memecoins Market Cap Plummets by Double Digits Following Trump's Tariffs

Nine of the 10 largest memecoins by market cap have taken double-digit hits in the past 24 hours following Donald Trump's imposition of tariffs

Several memecoins, including those launched by Donald Trump and his family, have taken a hit following the imposition of tariffs by the former U.S. president.

According to data from CoinGecko, nine of the 10 largest memecoins by market cap have seen double-digit losses in the past 24 hours.

The top five coins, Dogecoin, Shiba Inu, Pepe, Official Trump, and Bonk, have lost 12%, 13%, 19%, 14%, and 20% respectively.

Fartcoin, which remains the tenth ranked memecoin by market cap, has increased by 20% over the last 24 hours. However, like many other coins, it also suffered significant losses last month.

According to data from CoinGecko, Pudgy Penguins, dogwifhat, Fartcoin, and Floki have lost 67%, 65%, 54%, and 55% respectively over the last 30 days.

Trump imposed tariffs of 25% on Mexico and Canada and 10% on Chinese imports on Friday. The tariffs had a wider impact on the markets, with the S&P 500 dropping 0.5% and the FTSE 100 falling 1.1%.

Memecoins launched by Donald and Melania Trump also took a 24-hour hit. According to data from CoinGecko, they have collectively lost over $46 billion worth of trading volume and have fallen by 76% and 89% in price since launch.

In fact, buyers of any of the coin offerings and NFT projects launched by Trump and his family would have lost money by now as they have all suffered losses.

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