Washington DC - Donald and Melania Trump recently launched their own "meme coins" – but the rollout hasn't been going nearly as well as they expected.

Last week, the president touted his new $Trump cryptocurrency token, and on Sunday, the first lady followed suit, launching $Melania.

Initially, reports showed the coins soaring in value, but this week, that changed dramatically.

Citing reviews of crypto tracking data, ABC News reported that $Trump saw a drop of more than 20% in value over a 24-hour stretch, plunging from a high of $74.59 to $38 by Tuesday.

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Melania's meme coin suffered an even worse fate, as its value dropped by more than half, leaving it at $4.19 on Tuesday.

Critics have slammed the projects as a conflict of interest, as it seeks to enrich a sitting president and members of his family.

Throughout his campaign, Trump made big promises to win over the crypto community, such as vowing to create a special advisory council and make the US the "crypto capital of the planet."

When asked about the coin during a press conference on Tuesday, Trump responded: "I don't know much about it other than I launched it."