An analysis by cryptocurrency analytics firm Nansen has revealed that nearly 1 million people have lost a total of $3.8 billion after buying President Donald Trump’s $TRUMP memecoin.
According to the New York Times, the Nansen’s analysis is based on transactions that are publicly visible on the blockchain, showing that 988,905 accounts had lost money on the memecoin as of June end. That represents around two out of three $TRUMP buyers.
Meanwhile, the number of people who saw gains through the $TRUMP coin stands at around 5,000. They made just about the same amount, $4 billion, “capturing enormous gains while the broad retail majority absorbed the losses,” the report says.
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A TechCrunch report mentioned that on Sunday, $TRUMP was trading at $1.69, down nearly 98% from its high of $75.35.
Trump announced the memecoin three days before his inauguration in 2025. The memecoin is trading on the Solana blockchain.
Meme coins are cryptocurrencies usually inspired by internet memes or trends. They have no intrinsic value, rather their value depends on what buyers are willing to pay. Trump’s stance on cryptocurrency over the years. He had once criticized Bitcoin as “not money” and “highly volatile and based on thin air.” However, his stance changed as he received support from the crypto industry after embracing the new medium.
In July 2024, he also addressed crypto’s largest convention. He had also co-founded a crypto startup World Liberty Financial with his sons. The $WLFI coin has also declined significantly in value.
READ: Bitcoin spirals as Trump raises global tariffs to 15% (February 23, 2026)
In a recent financial disclosure, Trump revealed that he made $636 million from the $TRUMP memecoin. This accounts for nearly half of the $1.4 billion that the president made from the crypto industry last year.
The Securities and Exchange Commission (SEC) has said it will not regulate memecoins as securities under the Trump administration. A White House spokesperson told the NYT, “President Trump proudly made the United States the crypto capital of the world.”
According to a Gizmodo report, memecoins have been criticized as “essentially slush funds” that allow the personalities behind them to absorb wealth from supporters and fans. The report cited a study that claimed that memecoin investment is rife with market manipulation, saying “82.8% show evidence of artificial growth strategies designed to create a misleading appearance of market interest.”