Investors who have held onto their Melania memecoins since the token’s $13.05 peak at its January 2025 launch got more bad news after Republicans took a beating in the midterm election.
The first lady’s cryptocurrency sank to a "record low" as Republicans were losing their grip on Congress, Happy Coin News reported.
MELANIA shed nearly 13% of its value in trading on Nov. 4, falling to roughly $0.066, according to Yahoo Finance. At that price, someone who bought at the peak has lost more than 99% of their investment.
The president’s own coin, $TRUMP, also took a hit.
The trouble predates the election results, however, the report notes.
According to CoinGecko, MELANIA traded at around $0.088 on Oct. 28 and had already slipped to about $0.076 by Nov. 3, a loss of about 13% in the week before Election Day.
What sets the Trump family coins apart is that they kept falling while the rest of crypto steadied, according to the report. Altcoin Buzz noted that “this was not a broad crypto sell-off.” Over seven days, TRUMP dropped 25% and MELANIA 23.8%, while the overall crypto market dipped only about 1%.
Even after the slide, TRUMP has a market cap of about $352 million, though fewer than 3 in 10 of its 1 billion tokens are in circulation. Counting every token, it would be worth about $1.25 billion. MELANIA’s market cap is a far smaller $64 million.