The official TRUMP and MELANIA meme coins saw massive price declines over the past couple of days, as Donald Trump was inaugurated as the 47th President of the United States.
Bitcoin, on the other hand, dropped to around $102,000 after hitting a new all-time high on Monday.
Notably, Trump did not mention crypto in his inauguration speech, and no executive orders have been issued related to the industry.
Crypto stocks dropped in premarket trading. Canaan, Bit Digital, CleanSpark, MARA Holdings, Coinbase, MicroStrategy fell over 2%.