About two-thirds of the wallets that have bought the TRUMP memecoin are now holding losses, a combined $3.81 billion, according to blockchain analytics firm Nansen in data reported by CoinDesk and The New York Times. Of the roughly 1.48 million wallets that bought the token since its January 2025 launch, 988,905 are underwater.
The gains went to a smaller, earlier group. Just under 500,000 wallets locked in about $4.04 billion in profit, mostly by selling into the first rally, per the same Nansen data. The token trades about 96% below the $73.43 peak it reached within two days of launch.
The split is the central finding. Early buyers who sold near the top realized billions. The later and larger group who bought on the way up, or who held, absorbed the losses. Nansen’s figures are drawn from on-chain activity, which is public, so the outcomes can be counted wallet by wallet. What the data does not show is who is behind those early wallets, so this piece does not describe them beyond when they bought and sold.
The pattern is not new. The $HAWK token tied to internet personality Haliey Welch launched in December 2024, spiked to roughly a $490 million market value, and fell more than 90% the next day, per CoinDesk. A class-action suit followed. Larger collapses have taken the same arc, including the Terra token failure that ended in a criminal sentencing. The TRUMP token is bigger and better documented, but the shape Nansen describes, early buyers up and later buyers down, is the recurring outcome of tokens whose price rests on attention rather than earnings.
The takeaway for anyone weighing one of these tokens is simple. A token tied to a famous name has no earnings, no product, and no floor under its price. Its value is whatever the next buyer will pay. In a structure like that, the people who buy after the launch spike are the exit liquidity for the people who bought before them. That holds regardless of whose name is on the coin.
The TRUMP token still trades, and wallets still move in and out of it. The $3.81 billion is a snapshot of realized and unrealized losses as of this week’s Nansen data, not a final tally. What it captures is timing. The wallets that came out ahead were the earliest ones in and out.
Frequently Asked Questions
How much have TRUMP memecoin buyers lost?
About two-thirds of the roughly 1.48 million wallets that bought the token are holding a combined $3.81 billion in losses, per Nansen data reported by CoinDesk and The New York Times.
Who made money on the TRUMP coin?
Just under 500,000 earlier wallets locked in about $4.04 billion, mostly by selling into the first rally, per the same Nansen data.
How far has the TRUMP token fallen?
It trades about 96% below the $73.43 peak it reached within two days of its January 2025 launch.