Trump Memecoins Collapse Despite Crypto Market Surge After Election Win

The day after Donald Trump’s victory in the U.S. presidential election, Trump-themed memecoins suffered a sharp downturn as Bitcoin surged to a new all-time high. The leading Trump-inspired memecoin, MAGA (TRUMP), spiked to $4.60 following the election announcement on November 6 but has since plunged 53% in the last 24 hours, trading at $1.87, per CoinGecko. Trump himself reportedly holds 579,290 TRUMP tokens, now valued at around $1 million, according to Arkham Intelligence.

Other Trump-related memecoins also faced steep declines. The MAGA Hat (MAGA) token dropped 55% to $0.0002, while Dark MAGA (DMAGA), Super Trump (STRUMP), and MAGA: Fight for Trump (TRUMPCOIN) fell by 75%, 50%, and 56%, respectively. These losses are notable, especially as Trump’s election win, with 295 electoral votes to Kamala Harris’ 226, initially generated positive market sentiment for Trump-themed assets.

Despite the collapse of Trump memecoins, the broader crypto market showed strength. Memecoins like Dogecoin (DOGE) gained 10%, reaching $0.20, while Shiba Inu (SHIB) and PEPE, the third-largest memecoin by market cap, rose by 6% and 18%, respectively, according to CoinGecko.

The downturn in Trump memecoins coincided with Bitcoin (BTC) reaching a new record high of $76,228 on November 6. Ethereum (ETH) also saw a significant 12% rally, peaking above $2,800 on November 7 as trading volumes surged across the board.

This divergence highlights contrasting trends within the cryptocurrency market, where mainstream tokens rally alongside Bitcoin’s surge, while niche memecoins experience high volatility and downward pressure post-Trump’s election victory.