The launch of the $MELANIA token comes just two days after President-elect Donald Trump launched his own meme coin, which has since soared to a market cap of $10 billion.

Ivanka Trump said Thursday a meme coin bearing her name is “fake” and likely poses risks to investors, as other tokens named after and promoted by her father, President Donald Trump, and First Lady Melania Trump dropped in value days after they went viral.

After breaking the record for the fastest meme coin to hit a $15 billion market cap, the Official Trump ($TRUMP) coin has come under scrutiny. Many question

Melania Trump launched her own cryptocurrency, $MELANIA, following the success of her husband’s $TRUMP meme coin. Analysts see profit potential in $TRUMP, but ethics experts criticize it as exploiting the presidency. Meme coins like $TRUMP and $MELANIA are highly speculative, with limited utility and significant risks for traders.

Tech billionaire Mark Cuban floated the idea of emulating President Trump by launching his own meme coin, with all revenue going to the US Treasury.

Meme coins, which often start as jokes with no real value, are volatile cryptocurrencies that can skyrocket in price if enough people are willing to buy them.

Cryptocurrency fans may have gotten more than they bargained for when the president and his wife launched a pair of tokens last week.

Trump’s memecoin launch created billions in new wealth but didn’t generate substantial capital inflows into the crypto market. The token attracted 400,000 new crypto users,