Key Highlights:
- Tokens linked to Donald Trump and his family, such as TRUMP, MELANIA and WLFI, fell sharply on November 4 and November 5, 2026, after Democrats won control of both the House and Senate.
- The sell-off ran opposite to the overall crypto market, where Bitcoin rose 3% to 4% above $80,000, Ethereum gained 5%, and total market capitalization climbed roughly 3.1% to about $2.69 trillion.
- The divergence shows election-specific risk, as markets priced in a greater likelihood of investigations into Trump family business interests and uncertainty over Trump-backed crypto policy, while WLFI also faced pressure from Justin Sun's fraud lawsuit.
Tokens linked to Donald Trump and his family, such as TRUMP Coin, MELANIA, and WLFI, recorded sharp declines on November 4 and 5, 2026, after Democrats secured control of both the House and Senate in the U.S. midterm elections. The sell-off stood in clear contrast to gains across the broader cryptocurrency market.
According to CoinGecko, Official Trump, the memecoin launched in January 2025, fell around 15% over 24 hours, trading near $1.26 and briefly hitting a record low of about $1.22. The token now sits roughly 98.3% below its January 2025 peak of $73.43.
Melania Meme dropped around 10% to around $0.065, also reaching a new all-time low near $0.0638. It is down approximately 99.5% from its high of $13.05.
World Liberty Financial, the governance token of the Trump family-backed DeFi project, declined more moderately, by roughly 4.8% to near $0.047.
Overall Crypto Market Moves in Opposite Direction
While the political tokens declined, Bitcoin rose by more than 2.3% to levels above $80,000. Ethereum gained 6% to 7%, and the overall crypto market capitalization increased roughly 3.4% to about $2.69 trillion. Other major assets, including BNB, XRP, and Solana, also posted gains. At the time of writing, Bitcoin is trading at around $80,250 with a 2.3% gain in the last 24 hours, along with a market capitalization of $1.61 trillion. ETH has also witnessed a spike of 4% in the last 24 hours.
The political memecoin sector as a whole saw its combined market capitalization fall more than 16% to approximately $477 million, even as trading volume rose sharply. Trump Media & Technology Group shares also closed at a record low, dropping around 25% in one session.
Why the Divergence Occurred
The midterm results ended Republican control of Congress and handed Democrats stronger oversight powers starting in January. Market participants priced in a greater likelihood of investigations and subpoenas targeting Trump family business interests, including crypto-related ventures.
Analysts noted that tokens closely tied to political figures carry election-specific risk that major assets such as Bitcoin do not. The outcome also raised questions about the near-term prospects for Trump-backed crypto policy initiatives. One observer described the split as evidence that the market is differentiating between assets with direct political exposure and the rest of the sector.
WLFI faced additional pressure from ongoing legal issues, including a lawsuit by investor Justin Sun alleging fraud and improper freezing of tokens tied to a large investment.
Longer-Term Context for the Tokens
TRUMP and MELANIA have experienced prolonged declines since their early peaks. Both tokens function primarily as memecoins with limited utility beyond speculative trading and branding. WLFI offers governance rights in the World Liberty Financial project but does not provide direct revenue claims to holders.
The sharp moves following the midterms highlight how political sentiment continues to drive short-term price action in these assets, even as the wider digital-asset market focuses on other factors. Trading activity in the political token segment remained elevated during the sell-off.
The coming weeks could provide further insight into how political developments influence the performance of Trump-associated digital assets. Any formal congressional inquiries, changes in the administration’s crypto policy outlook, or developments in WLFI’s ongoing legal dispute could add to market uncertainty. However, the extent to which these factors affect token prices remains unclear. For now, the contrasting performance of these assets and major cryptocurrencies highlights the different risks facing politically linked tokens. Investors will likely continue monitoring both political developments and broader market conditions as they assess the outlook for TRUMP, MELANIA, and WLFI.
