Trump and Melania memecoins hit record lows as Democrats win Congress

Official Trump (TRUMP) and Melania Meme (MELANIA) tokens fell to record lows after Democrats won Congress in the midterm elections, while Trump Media & Technology Group (DJT) stock also closed at a record low on Wednesday. The broader crypto market moved the opposite way, with Bitcoin gaining 4.36% over the past 24 hours and Ethereum also rising. Traders holding Trump-branded political tokens face continued downside as political momentum shifts against the namesake, even as the wider market rallies.