Following the Democrats’ victory in the November 3 midterm elections, digital assets tied to Donald Trump spearheaded a wider crypto market selloff as the party secured control of both congressional chambers. Over a 24-hour period, the Official Trump (TRUMP) memecoin slumped about 17% to $1.33, whereas World Liberty Financial’s WLFI token fell over 7% to trade near $0.047.
MELANIA, the token associated with Melania Trump, likewise experienced a steep drop of nearly 13%. This downward trend stood in stark contrast to the rest of the digital asset market, which saw a recovery as Bitcoin climbed over 4% and Ethereum rose roughly 6%.
The election results threaten to hinder the administration’s crypto initiatives and elevate political and regulatory oversight regarding Trump-linked digital asset projects. Cryptocurrencies tied to US President Donald Trump suffered steep drops following the Democratic win on November 3, despite an upward trend across the broader crypto sector.
On Wednesday, November 4, World Liberty Financial’s WLFI token and the Official Trump (TRUMP) memecoin ranked among the worst performers within the top 100 cryptocurrencies. These losses for Trump-themed tokens arrived on the heels of a major political realignment in Washington, DC, where Democrats won majorities in both the Senate and the House of Representatives.
Trump’s Official Memecoin Plunges as Political Support Weakens
Based on metrics from CoinGecko, TRUMP fell roughly 17% across a 24-hour window to $1.33, and WLFI decreased by more than 7% to roughly $0.047.
This market reaction underscores the extent to which specific politically connected digital assets rely heavily on anticipated shifts in Washington’s regulatory framework and the trajectory of cryptocurrency markets.
The Official Trump token debuted in January 2025, just ahead of Trump’s inauguration, quickly drawing substantial interest from crypto speculators. Its value surged swiftly, peaking at an all-time high close to $73.43.
Yet, the memecoin has subsequently shed over 98% of that record value, illustrating the challenges of sustaining long-term investor interest in digital tokens driven by political themes.
This most recent drop further casts doubt on the asset’s capacity to generate continuous demand independently of Trump’s public persona.
Written by
Yuki Yamamoto
