Key Takeaways:
- Leading meme coins including Dogecoin, Shiba Inu, and PEPE have crashed over 20% amid market turmoil
- The selloff was triggered by President Trump’s new tariff announcement that has sparked widespread market panic
- Dogecoin leads losses among major meme tokens with a 25% decline
The cryptocurrency market’s meme coin sector is experiencing severe turbulence as leading tokens post double-digit losses following President Trump’s unexpected tariff announcement. The widespread selloff has particularly impacted popular meme cryptocurrencies, with market leaders like Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE facing sharp declines.
Dogecoin, the original meme cryptocurrency, has plummeted by approximately 25% in the past 24 hours, currently trading at $0.135. This significant drop comes as analysts closely watch critical support levels that could determine the token’s short-term trajectory.
Market Impact and Analysis
The meme coin sector’s vulnerability to macro-economic shocks has been highlighted by this recent market movement. While the entire crypto market has faced downward pressure, meme coins have experienced particularly severe corrections due to their historically higher volatility.
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FAQ Section
Q: What caused the meme coin crash?
A: The crash was primarily triggered by President Trump’s announcement of new tariffs, which sparked a broader market selloff affecting both traditional and crypto markets.
Q: How much have major meme coins dropped?
A: Leading meme coins have experienced losses ranging from 20-25%, with Dogecoin down 25%, and others like Shiba Inu and PEPE showing similar significant declines.
Q: What’s the outlook for meme coins?
A: Market analysts suggest watching key support levels and broader market sentiment, as meme coins typically show higher sensitivity to macro-economic events.