Trump memecoin's market value collapses from $72 billion to $340 million after US midterms

President Donald Trump's memecoin has lost more than 99% of its reported peak market value, falling from $72 billion to about $340 million after Trump's Republican Party performed poorly in the U.S. midterm elections. The crash left holders of the memecoin facing steep losses. 

Here's what to know

The Trump-branded cryptocurrency fell to a record low of $1.12 after trading at roughly $1.70 immediately before voting, according to Futurism. That amounted to a decline of about 34% over that period alone.

Previously, the coin had been trading at around $2. The subsequent slide wiped out about 44% of its per-token value, further reducing what investors could recover by selling. In total, almost a million people had invested in the token.

A softer landing for some

A small group of large holders, known in the industry as "whales," appeared to have secured lucrative early exits before the steep losses that followed. An analysis cited by Futurism found that 21 of these holders collectively cashed out about $214 million early in the coin's launch, helping drive its value downward.

This early cash-out, a common practice in the crypto market, left many smaller-scale holders to suffer the losses while whales captured the gains. In the case of the Trump memecoin, these included many of the president's most devoted followers.

What can be done?

Even those selling immediately before the midterms-related crash in value had waited too long to maximize their investment. 

According to Futurism, the optimum date for an exit from the Trump memecoin would have been around the time the president's second term began in January 2025. Despite the steep losses, Futurism advised anyone still holding the coin to sell now, as the coin was unlikely to regain value. 

Even as many of his most ardent followers faced an almost total loss of their investments, the president has profited massively off of his cryptocurrency endeavors. In July, the BBC reported that the U.S. president had raked in more than $1 billion from various crypto ventures following his 2025 return to the presidency. 

Where can I learn more?

The Trump token's steep losses show how risky speculative cryptocurrencies, including memecoins, can be.

• Hackers used Microsoft's X account to promote a Clippy coin before posting a fake apology.

• AI influencer Jean Philanthrope got a meme coin after attracting tens of millions of views.

• Toronto's self-described "Crypto King" will defend himself at trial after a delay was denied.

• North Korean hackers were suspected in a $351 million heist targeting crypto exchange Bitget.

• New York officials weighed a crypto freeze as Plattsburgh's mayor warned about electricity demand.

Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.