A blockchain analytics report analyzed performance of President Donald Trump’s $TRUMP memecoin using transaction data through the end of June. The findings indicate that 988,905 token buyers are “underwater,” meaning they hold tokens at a loss relative to their acquisition costs. Across the investor base, the report estimates total losses of $3.81 billion (about $3.8 billion in rounded figures). The analysis also distinguishes between retail participants and more sophisticated traders, saying most retail investors lose money, while certain larger or more experienced traders do better. In parallel, the report states that Trump earns $636 million from the same coin over the period covered. The outlets reporting on the analysis cite Nansen’s calculations and present the results as an aggregate view of buyers’ outcomes rather than a measure of overall market value. Together, the coverage describes a pattern of widespread losses among buyers, alongside a separate tally of proceeds attributed to Trump from the memecoin.