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Trump Crypto Tokens Crash as Democrats Take Control of Congress
Trump crypto tokens led losses across the digital asset market after Democrats secured control of both chambers of Congress in the November 3 midterm elections. The Official Trump (TRUMP) memecoin dropped approximately 17% in 24 hours to $1.
Dextape brief
Tokens linked to US President Donald Trump fell sharply after Democrats won control of the House of Representatives and the Senate in the November 3 midterm elections. The Official Trump memecoin, known as TRUMP, lost roughly 17% over 24 hours to reach $1.33, based on CoinGecko data. World Liberty Financial's WLFI token slid more than 7% to about $0.047, and Melania Trump's MELANIA token dropped close to 13%. Those declines came as the wider market rose, with Bitcoin up over 4% and Ethereum up around 6%. The result may make the administration's digital currency plans harder and draw more political and regulatory attention to Trump-linked digital asset ventures. The memecoin, launched in January 2025, is down more than 98% from its all-time high near $73.43.
Why it matters: The episode shows how closely politically linked tokens track expectations about Washington's regulatory direction, a link that matters to crypto readers following policy shifts.
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Terms in this story
- Memecoin
- A token built around a joke, meme or community rather than a product.
Mentioned in this story
Open a coin page for its current price.