Trump tokens fall 17% after Democrats win both chambers

The Official Trump (TRUMP) memecoin dropped approximately 17% in 24 hours to $1.33 on November 4, following the Democratic Party’s victory in the November 3 midterm elections. World Liberty Financial’s WLFI token declined more than 7% to around $0.047 during the same period, marking a sharp contrast to the broader digital asset market, which saw significant gains in major cryptocurrencies.

Market Reaction to Congressional Shift

Democrats secured control of both the House of Representatives and the Senate in the November 3 midterm elections. This political shift triggered an immediate sell-off in digital assets directly associated with President Donald Trump. The Official Trump token and World Liberty Financial’s WLFI token were among the weakest performers across the top 100 cryptocurrencies on Wednesday, November 4.

Melania Trump’s MELANIA token also suffered a significant decline, falling nearly 13% in the 24-hour period. The selloff in these politically linked assets occurred even as the wider crypto market moved higher. Bitcoin gained more than 4% and Ethereum advanced approximately 6% during the same timeframe, indicating that the decline was specific to the Trump-associated tokens rather than a general market downturn.

Performance Since Inauguration

The Official Trump token was introduced in January 2025, shortly before Trump’s presidential inauguration. At the time of its launch, the memecoin attracted considerable attention from cryptocurrency traders, and its price climbed rapidly. The token eventually reached an all-time high of approximately $73.43.

Since that peak, the Official Trump token has lost more than 98% of its value. The recent 17% drop adds to the cumulative decline experienced by the asset since its introduction. The performance of these tokens has been closely tied to expectations surrounding Washington’s regulatory direction and the future of the crypto markets under the current administration.

The election outcome is expected to complicate the administration’s crypto agenda. With Democrats now controlling both chambers of Congress, political and regulatory scrutiny of Trump-associated digital asset ventures is likely to increase. The market reaction on November 4 reflects the sensitivity of these specific assets to changes in the political landscape in Washington.