$TRUMP Memecoin Wipes Out $3.8B From 1M Investors

An analysis by cryptocurrency analytics firm Nansen found that nearly 1 million people lost a total of $3.8 billion after buying President Donald Trump's $TRUMP memecoin. The analysis, based on publicly visible blockchain transactions, showed that 988,905 accounts had lost money on the memecoin as of the end of June, representing about two out of three buyers.

In contrast, around 5,000 traders saw gains totaling $4 billion, capturing enormous profits while the broad retail majority absorbed the losses. The memecoin was trading at $1.69 on Sunday, down nearly 98% from its high of $75.35, according to a TechCrunch report.

Trump announced the memecoin three days before his inauguration in 2025. It trades on the Solana blockchain. Meme coins are cryptocurrencies inspired by internet memes or trends and have no intrinsic value, relying instead on what buyers are willing to pay. Trump had previously criticized Bitcoin as "not money" and "highly volatile," but his stance shifted as he received support from the crypto industry.

In a recent financial disclosure, Trump revealed he made $636 million from the $TRUMP memecoin, nearly half of the $1.4 billion he earned from the crypto industry last year. The Securities and Exchange Commission has said it will not regulate memecoins as securities under the Trump administration. A White House spokesperson told the New York Times, "President Trump proudly made the United States the crypto capital of the world."