From CryptoPotato · By Dimitar Dzhondzhorov
The Democratic Party in the United States won a decisive victory in the midterm elections, securing more support even in Republican strongholds like Texas.
As expected, the vote triggered heightened volatility in crypto and financial markets, with many leading digital assets initially plunging before recovering their losses. However, certain meme coins connected to President Donald Trump remain firmly in red territory.
Declines for These Tokens
A “blue tsunami” in the US wiped out Republicans; America rejects Trump’s rule; a massive win for the Democrats: these are some of the global headlines today (November 4) that showcase the overwhelming support for the Dems in the midterm elections in the US, which took place on November 3.
The blue party took control of both the Senate and House and reportedly emerged victorious in Iowa, Kansas, North Carolina, Ohio, South Caroline, and Texas, which have historically been swing states and, in some cases, bastions for the Republicans. Of course, the Dems also won the elections in their traditional regions, including California, Massachusetts, Maryland, New York, and many more. President Donald Trump reacted in his own style to the Republicans’ crucial loss, saying on Truth Social:
“I wasn’t on the ballot, and if I was, we would have won in a landslide.”
However, it is safe to say the election’s outcome reflects Americans’ direct disapproval of some of Trump’s politics and decisions as a leader. With Democrats set to dominate the local parliament from the beginning of 2027, the president is expected to face greater challenges in advancing legislation and his agenda.
As expected, the Republicans’ loss negatively impacted meme coins tied to him. Official Trump (TRUMP), a token that launched around his inauguration in early 2025, plummeted 10% in a day. It currently trades at around $1.44, its lowest level since August, while its market capitalization dropped to roughly $400 million. This means that TRUMP is no longer part of the elite club of the 100 biggest cryptocurrencies.
TRUMP Price, Source: CoinGecko
Other similar tokens that have underperformed today include MAGA (TRUMP) and Pepe Trump (PTRUMP), which slipped 4% and 2%, respectively.
MELANIA Also Bleeds
America’s first lady also has a meme coin bearing her name. Launched in January last year, MELANIA surged above $8 at its peak, pushing its market capitalization past $600 million.
However, the token has been on a prolonged downtrend in recent months, with the election results further worsening its condition. It is now valued at roughly $0.07, down 10% on the day, while its market cap has fallen to around $70 million.
MELANIA Price, Source: CoinGecko