Markets were hammered on Monday as the latest trade war announced by President Trump shook the global economy. Financial markets were shaken by the U.S. president’s decision to impose new tariffs on trading partners, including a 10% base tax and increased rates on China, the European Union, and Vietnam. As a result, stocks and cryptocurrencies fell sharply. The U.S. dollar fell, and even gold, which is considered a safe haven asset, fell on Monday.
Amid the broader market turmoil, Solana-based meme coin Fartcoin stood out. While most major cryptocurrencies, including Bitcoin and Ethereum, suffered major losses, Fartcoin managed to gain 10% in the past 24 hours. It recently traded at around $0.49, having peaked at $0.55 earlier in the day. This is in stark contrast to other meme coins, such as Dogecoin, which fell nearly 10% to $0.145.
Market sentiment was generally bearish after President Trump announced the tariff increase, and investors panicked, leading to a widespread sell-off in risk assets. Even the U.S. stock market, which had been showing signs of recovery, was hit. Cryptocurrency markets also mirrored the stock market’s decline, with Bitcoin initially rebounding after reports that the White House was considering a 90-day pause in tariffs. However, the rebound was short-lived as the White House quickly dismissed the reports as “fake news.” Bitcoin’s price soon fell 5% to just below $75,000.
Amid the market chaos, Fartcoin’s price surge caught the attention of investors and analysts. While other meme coins such as Pepe, Shiba Inu and Official Trump also saw their prices fall, Fartcoin’s surge raised questions about the unpredictability of the cryptocurrency space. Meme coins, which are often based on internet culture or popular figures, can be particularly volatile due to their wild price swings. During such turbulent times, Fartcoin’s rise could be a sign of more unpredictability to come.
On social media, analysts expressed confusion over the unusual market activity. Eric Balchunas, senior ETF analyst at Bloomberg, tweeted: “Literally everything is down, even Treasuries and gold. Bitcoin and Ethereum are hitting rock bottom. Can anyone explain this?” Some Twitter users humorously suggested “hot air rising,” alluding to Fartcoin’s sudden rise in value.
Fartcoin’s resilience despite the market turmoil is indicative of the volatility of the cryptocurrency world. The coin’s ability to rise while other major cryptocurrencies and assets are struggling highlights the unpredictability of the memecoin, which is known for its wild price swings. As markets continue to react to ongoing trade tensions, Fartcoin’s rise is an unexpected anomaly in a chaotic environment.
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