Trump-linked crypto tokens led losses in the digital asset market after Democrats won both chambers of Congress. The Official Trump memecoin fell approximately 17% in 24 hours, even as Bitcoin and Ethereum gained.
The Official Trump (TRUMP) memecoin dropped approximately 17% in 24 hours to $1.33, while World Liberty Financial's WLFI declined more than 7% to around $0.047. The moves followed the Democrats' win in the November 3 midterm elections.
Trump-linked tokens trail a rising market
Melania Trump's MELANIA fell nearly 13%. The selloff contrasted with the wider market, where Bitcoin gained more than 4% and Ethereum advanced approximately 6%.
TRUMP and WLFI were among the weakest performers across the top 100 cryptocurrencies on Wednesday, November 4. The losses came after Democrats secured control of both the House of Representatives and the Senate.
Election result could complicate the crypto agenda
Bitcoinist reports that the election outcome could complicate the administration's crypto agenda while increasing political and regulatory scrutiny of Trump-associated digital asset ventures. The publication adds that the reaction shows how closely certain politically associated digital assets remain tied to expectations about Washington's regulatory direction.
The Official Trump token was introduced in January 2025, shortly before Trump's presidential inauguration. Its price climbed to an all-time high of approximately $73.43. The memecoin has since lost more than 98% of that peak value.
Source: Bitcoinist
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