Dogecoin 
doge-8.48%Dogecoin token retreated to a low of $0.019 on Sunday, its lowest level since November 7 last year. It has plunged by over 60% from its highest level in November.
Dogecoin’s crash has mirrored the performance of other meme coins, most of which have plunged in the past few months. Popular tokens like Shiba Inu, Pepe, and Dogwifhat are down by over 50%.
It has also dropped as Elon Musk, a key backer for the memecoin, has come under intense pressure this year. Bloomberg data shows that Musk’s net worth has dropped by $103 billion this year, bringing his worth to $330 billion. China on Saturday announced retaliatory tariffs on some Canadian agricultural goods, hitting back after Ottawa slapped import duties on Chinese-made electric vehicles and steel and aluminum products.
Beijing said a 100% tariff would be imposed on Canadian rapeseed oil, oil cakes and peas, while a 25% levy would be placed on aquatic products and pork originating in Canada.
The tariffs are scheduled to come into force from March 20, according to a statement from China’s Customs Tariff Commission of the State Council.
The measures come amid a brewing global trade war, following several tariff announcements by the U.S., China, Canada and Mexico in recent months.
Canada imposed 100% import tariffs on Chinese-made EVs from Oct. 1 last year, following in the footsteps of the U.S. and the European Union over concerns related to unfair competition.
Ottawa also applied a 25% tariff on imports of steel and aluminum products from China, which came into effect from Oct. 15.
“Canada’s unilateral imposition of tariffs disregards objective facts and World Trade Organization rules, is a typical trade protectionist practice, constitutes a discriminatory measure against China, seriously infringes on China’s legitimate rights and interests, and undermines China-Canada economic and trade relations,” China’s customs authorities said in a statement on a Saturday, according to a Google translation.
The latest reporting is that Donald Trump is starting to push back on some of Elon Musk’s actions. According to the New York Times, Musk crashed with cabinet officials like Marco Rubio in a tense cabinet meeting. These discussions pushed Trump to rein on Musk, who leads the Department of Government Efficiency or DOGE.
