Following President Donald Trump’s recent tariff announcement, global markets are in turmoil, with U.S. stock futures dropping significantly.
Following President Donald Trump’s recent tariff announcement, global markets are in turmoil, with U.S. stock futures dropping significantly. Dow futures lost 1.2%, and the S&P 500 and Nasdaq futures tumbled 1.9% and 2.7%, respectively. Trump’s decision to impose 25% tariffs on Mexican and Canadian goods, alongside a 10% levy on Chinese imports, has sparked fears of prolonged high interest rates, further shaking investor confidence. As a result, many markets, including cryptocurrency, are seeing red.
Despite the downward trend, meme coins, particularly those on the Solana network, are showing signs of resistance, albeit with mixed results. Over the past week, meme coins have fallen by 29% overall, with Ethereum’s Base layer-2 meme coins seeing a drop of 7.3%. Solana meme coins have decreased by 4.4%. But even in this difficult market environment, some meme coins have managed to turn a profit, driven by traders who continue to gamble on these volatile assets. For example, Fartcoin (FARTCOIN) surged by 36%, and Toshi (TOSHI) saw a 33% jump, while Solana’s Dogwifhat (WIF) dropped by 23%. This was due to false claims about the token’s connection to the Las Vegas Sphere, where a representative clarified that there was no agreement to advertise the coin.
In the middle of the turmoil, some traders are still finding opportunities. Tokens such as Rope (ROPE), which controversially referenced suicide, shot up to a market cap of $6 million, with some traders profiting more than $10,000. Others, however, faced steep losses. McValue (MCVALUE), another meme coin, climbed to an $824,000 market cap, but it is still early, and there are concerns that it could soon fall as is typical with meme coins, whose shelf life is often short.
Despite the challenges, the meme coin market continues to show some resilience. Over 53,000 tokens were created on the Pump.fun launchpad, though this was a 9.7% decline compared to the previous Saturday. The market is still active, and some traders continue to rely on low-cap meme coins for potential gains, though many are also losing money. Some analysts, like pseudonymous trader 0xWinged, warn that the meme coin market’s volatility is dangerous, with 99% of traders getting “killed in the trenches.”
Many in the crypto community are shifting their focus to AI-driven coins and assets with stronger fundamentals. Some believe this may offer better risk-reward opportunities than meme coins, which are often driven by negative market sentiment. Despite the warnings, meme coins like AI Rig Complex (ARC) on Solana are gaining attention, and some investors are continuing to bet on their success in a market defined by uncertainty.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
