Disappointment in the cryptocurrency market, Donald Trump's coin in free fall, even worse the First Lady's coin

Donald Trump's cryptocurrency has fallen 32% in the past 24 hours. The decline comes amid disappointment over the president's failure to introduce pro-crypto policies on his first day in office, as he promised during the campaign.

His "meme currency", known as $TRUMP, has now halved in value, leading to a huge drop, after a record high of $65 two days ago.

According to Crypto Today, Trump's coin is the worst-performing token among the 100 largest cryptocurrencies.

Meanwhile, the First Lady's coin (called $MELANIA) has fared even worse, falling by 61%.

The decision to issue their own cryptocurrencies has been met with a fierce backlash, even from Bitcoiners and Trump supporters.

Bitcoin investors had high hopes for the president's first day in the Oval Office. Reports suggested that Trump planned to name crypto as one of his national priorities and would immediately announce plans to kickstart the cryptocurrency industry.

However, none of the executive orders he signed yesterday related to digital assets, and US plans to invest in Bitcoin through the so-called "strategic reserve" have yet to be confirmed.