Nearly one million investors in President Donald Trump's $TRUMP memecoin have collectively lost an estimated $3.8 billion, according to new blockchain analysis by crypto analytics firm Nansen.

The report found that 988,905 wallets were holding losses as of the end of June, representing roughly two-thirds of everyone who purchased the token since its launch.

A sharp decline

The $TRUMP memecoin was launched three days before Trump's inauguration in 2025 and quickly surged to a peak price of more than $75. It has since fallen by nearly 98%, trading at around $1.69.

Despite the decline, recent financial disclosures show that Trump earned approximately $636 million from the token, accounting for a significant share of his crypto-related income.

Crypto remains a White House priority

The losses come as the Trump administration continues to adopt a pro-crypto stance. The US Securities and Exchange Commission has eased its approach to regulating memecoins and dropped several enforcement actions against crypto companies.

According to the White House, the administration remains committed to making the United States a global hub for cryptocurrency innovation.