The official cryptocurrency of Donald Trump has fallen by 32% in the last 24 hours. This decline comes amid disappointment over the president’s failure to introduce pro-crypto policies on his first day in office, as he had promised during his campaign.
His “meme coin,” known as $TRUMP, has now halved in value, leading to a significant drop after reaching a record high of $65 just two days ago.
According to Crypto Today, Trump’s coin is the worst-performing token among the top 100 cryptocurrencies.
Meanwhile, the First Lady’s coin (named $MELANIA) has performed even worse, dropping by 61%.
The decision to release their cryptocurrencies has been met with a harsh response, even from Bitcoiners and Trump supporters.
Bitcoin investors had high expectations for the president’s first day in the Oval Office. Reports had suggested that Trump had planned to make cryptocurrency a national priority and would immediately announce plans to put the crypto industry on track.
However, none of the executive orders he signed yesterday were related to digital assets, and plans for the U.S. to invest in Bitcoin through the so-called “strategic reserve” have yet to be confirmed.
