Nearly one million investors have collectively lost an estimated $3.8 billion after buying US President Donald Trump's $TRUMP memecoin, according to a new analysis by cryptocurrency analytics firm Nansen.
The report says the majority of wallets that purchased the token were holding it at a loss by the end of June.
According to Nansen, 988,905 blockchain accounts had lost money on the $TRUMP memecoin as of the end of June.
The analysis, cited by The New York Times, is based on publicly available blockchain transaction data and suggests that nearly two out of every three people who bought the token ended up losing money.
Token falls nearly 98pc from record high
As of Sunday, the $TRUMP memecoin was trading at $1.69, down almost 98% from its all-time high of $75.35.
The sharp decline has erased billions of dollars in market value since the token's launch.
President Trump announced the $TRUMP memecoin three days before his inauguration in 2025.
Before launching the token, Trump had also co-founded the cryptocurrency venture World Liberty Financial alongside his sons. Its associated $WLFI token has also experienced a significant decline in value.
Financial disclosure reveals crypto earnings
According to a recent financial disclosure, Trump reported earning $636 million from the $TRUMP memecoin.
The filing showed that the token accounted for nearly half of the $1.4 billion he disclosed as income from cryptocurrency-related ventures over the past year.
Under the Trump administration, the US Securities and Exchange Commission (SEC) has said it does not consider memecoins to be securities and therefore will not regulate them under securities laws.
The SEC has also dropped several lawsuits previously filed against cryptocurrency companies.
Responding to questions from The New York Times, a White House spokesperson said, "President Trump proudly made the United States the crypto capital of the world."
