Trump Memecoin Hits Record Low After US Midterm Election Losses
Donald Trump’s official memecoin has fallen to a new all-time low after Democrats made sweeping gains in state governments in the midterm elections.
The Official Trump (CRYPTO: $TRUMP) token dropped to $1.12 on Thursday, according to CoinMarketCap, bringing its market capitalization to roughly $340 million. The token is currently trading at $1.22, down 1% over the past day and more than 98% below its January 2025 peak of $75.35.
The latest decline followed a broader sell-off across cryptocurrency markets and this week’s US midterm elections, in which Democrats made significant gains in Congress. The token had traded around $1.70 before the election and was worth approximately $2 a month earlier.
The collapse adds to mounting losses among retail holders of the president’s cryptocurrency. A July report by The Block, citing data from blockchain analytics firm Nansen, found that 988,905 wallets holding TRUMP were collectively sitting on $3.81 billion in realized and unrealized losses as of the end of June.
The analysis covered roughly 1.48 million wallets that had purchased the token, with about two-thirds recording losses.
Notably, the token has faced many controversies since its launch in January 2025. Concerns about the token’s distribution emerged shortly after its launch.
A Bloomberg analysis of blockchain transactions identified 21 large wallets that generated approximately $214.3 million in gains during the token's first 48 hours. One cluster of related wallets accounted for around $170 million of those gains.
Trump’s personal earnings from the crypto industry have also drawn scrutiny. A financial disclosure covering 2025 showed that he received approximately $635 million in royalties connected to the memecoin, alongside more than $500 million in income from World Liberty Financial (CRYPTO: $WLFI), a crypto venture associated with his family.
The figures put Trump's reported crypto-related income at more than $1 billion during his first year back in office.
This story was originally published by CryptoProwl. Read the original article.
