TRUMP and MELANIA Tokens Drop Over 90% as Retail Lose Hit $4.3B

• Retail investors lost $4.3 billion while insiders secured about $600 million in realized gains.
• TRUMP fell 92%, and MELANIA dropped 99% from their all-time highs.
• $2.7 billion in insider-held tokens remain locked in smart contracts until 2028.

Bill Morgan, a lawyer and a digital asset enthusiast, drew attention to mounting losses tied to the TRUMP and MELANIA memecoins, stating that the scale of retail damage has intensified scrutiny of the projects’ structure. A new report from CryptoRank estimates that retail investors have lost $4.3 billion after the tokens fell more than 90% from their peak prices.

According to the data, more than 2 million wallets are currently holding underwater positions. In contrast, insiders are reported to have cashed out approximately $600 million. The analysis shows that for every $1 earned by insiders, retail participants lost about $20. CryptoRank also found that 45 early-deployment wallets realized a combined $1.2 billion in gains.

President Donald Trump and First Lady Melania Trump launched their official cryptocurrency tokens more than a year ago. Since then, the assets have erased an estimated $4.3 billion in retail wealth as prices retreated from their highs.

Price Declines Outpace Broader Market

Blockchain data show the TRUMP token has fallen 92% to $3.6 from its all-time high of $75. The MELANIA token has dropped 99% to $0.12 from a peak of $13.05.

Although the wider crypto market declined by more than $1 trillion during the same period, researchers attributed the losses in the presidential tokens to their structural design rather than overall market conditions.

Liquidity Mechanics and On-Chain Transfers

CryptoRank’s findings reference on-chain activity tied to liquidity management. Developers reportedly used a single-sided liquidity provision strategy on the decentralized platform Meteora. Under this structure, insiders deposited TRUMP and MELANIA tokens into liquidity pools without pairing them with equivalent dollar assets.

This setup directed automated market makers to sell tokens into retail demand. The proceeds were then converted into USDC. In December 2025, blockchain analyst EmberCN reported that the primary TRUMP deployment address transferred $94 million in USDC to the cryptocurrency exchange Coinbase.

Locked Tokens Until 2028

CryptoRank data also show that approximately $2.7 billion in insider-held tokens remain locked in smart contracts until 2028. The unlock date aligns with the end of President Trump’s current term.

With millions of retail wallets still holding positions below their purchase prices, the combination of insider gains, extended lockups, and steep price declines has drawn continued attention from industry observers reviewing the tokens’ distribution and liquidity structure.

Related: Altcoins Feel the Heat as Trump Family Tokens Hit the Market