Official Trump (TRUMP) Drops to a 3-Month Low Following the Democrats’ Victory: Details

On November 4, Official Trump (TRUMP), a meme coin—a type of cryptocurrency associated with internet memes or public figures—tied to President Donald Trump fell about 10% to roughly $1.44, its lowest level since August. Its market capitalization dropped to about $400 million, leaving the list of the 100 largest cryptocurrencies. The decline followed Democrats’ victory in the November 3 U.S. midterm elections, in which they took control of both the Senate and House and won in Texas and other historically Republican-leaning or swing states. Related tokens MAGA and Pepe Trump fell 4% and 2%, while MELANIA, named for first lady Melania Trump, dropped 10% to about $0.07 and a market value near $70 million.