TRUMP and MELANIA Memecoins Hit Record Lows as Democrats Win House

The two memecoins carrying the names of the president and first lady have fallen to new all-time lows this week. Official Trump (TRUMP) touched $1.22, which leaves it 98.3% below its $73.43 peak from January 2025.

Melania Meme (MELANIA) set its own low at $0.06321. It now trades 99.5% below its $13.05 high.

The new lows came as Democrats won control of the House in the midterm elections. That shift puts the House Oversight Committee in the hands of a chair who says the panel will look at the Trump family's crypto deals.

TRUMP Falls 25% in a Week While the Market Barely Moves

This was not a broad crypto sell-off. Over the last seven days, TRUMP is down 25%, while the global crypto market is down 1.2% over the same window.

MELANIA tells the same story. It lost 23.8% in seven days, against a 1.1% dip for the market as a whole.

At its latest figures, TRUMP has a market cap of about $352.3 million. Only 281.868 million of its 1 billion tokens are in circulation, which is less than a third of the supply. Its fully diluted value, the market cap if every token were already circulating, is about $1.25 billion. MELANIA is a much smaller coin, with a market cap of about $64 million.

TRUMP Trading Volume Tripled as Futures Traders Leaned Short

The drop came with a surge in activity. TRUMP traded about $412 million in the last 24 hours, up 245.2% from a day earlier, so volume more than tripled.

Volume alone does not show whether people were mostly buying or selling. Every trade has both sides.

The futures market gives a clearer hint about positioning. TRUMP's perpetual futures funding rate sits at -0.0522% per eight hours. Perpetual futures are contracts with no expiry date, and the funding rate is a regular payment between traders that keeps the contract price near the spot price. When it turns negative, traders betting on lower prices pay those betting on higher prices. In plain terms, more of the money in TRUMP futures is positioned for further falls than for a rebound.

MELANIA saw far less action. Its 24-hour volume was about $7.2 million. For a coin of that size, thin trading means a single large order can move the price more.

House Oversight Chair Plans to Examine Trump Family Crypto Deals

Rep. Robert Garcia, the incoming chair of the House Oversight Committee, has said the panel will examine the Trump family's crypto deals. His full statement and the list of deals the committee plans to review first have not been confirmed from his own published words.

The timing matters. From January, the committee's subpoenas can compel documents and testimony, and they do not need the president's signature.

There is no confirmed evidence that the election result is the reason TRUMP and MELANIA fell. What the data shows is that both coins hit record lows in the same days that the vote handed oversight power to Democrats, while the wider market was close to flat over the week.

If you hold either coin, the next dates on the calendar are political rather than technical. The new Congress takes over in January, and that is when the committee can start demanding records. Until then, the futures funding rate is the number to watch: a move back toward zero or above would show traders unwinding their bets on further losses.