Nearly 1 million people have lost a total of $3.8 billion after purchasing President Donald Trump’s $TRUMP memecoin, according to cryptocurrency analytics firm Nansen. Nansen’s analysis, based on publicly visible blockchain transactions, indicates that 988,905 accounts had lost money on the memecoin as of the end of June 2023, representing approximately two out of three $TRUMP buyers.
As of Sunday, the $TRUMP token was trading at $1.69, down nearly 98% from its peak price of $75.35. Trump announced the memecoin three days prior to his inauguration in 2025.
Trump previously co-founded a cryptocurrency startup, World Liberty Financial, with his sons. The $WLFI coin associated with this venture has also seen a significant decline in value.
A recent financial disclosure by Trump revealed that he earned $636 million from the $TRUMP memecoin, which accounted for nearly half of the $1.4 billion he made from the cryptocurrency sector last year.
During Trump’s presidency, the Securities and Exchange Commission indicated it would not regulate memecoins as securities and dismissed several lawsuits against crypto companies. A White House spokesperson remarked, “President Trump proudly made the United States the crypto capital of the world.”
