Now there's a $MELANIA meme coin to go with the $TRUMP cryptocurrency meme coin. Both coin prices rose to generate billions of dollars.

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.

Ahead of his inauguration, President-elect Donald Trump launched the $TRUMP meme coin. The crypto, which had captivated attention over the weekend, has seen a 60% dip in value from its highest point.

The soon-to-be First Lady introduced $MELANIA on Sunday, after which her husband's meme coin saw a significant price drop.

First Lady Melania Trump launched the Official Melania meme coin on the Solana (SOL -13.16%) blockchain with the ticker $MELANIA. She followed in the footsteps of Pres

Melania Trump is following in the footsteps of her husband, President-elect Donald Trump, in launching her own meme coin . "The Official Melania Meme is live!" the incoming first lady posted on social media.

The biggest concern investors and industry leaders have with the president’s meme coin ventures is his large stake in the $TRUMP and $MELANIA coins.

Dubbed Melania, the Solana-based token has surged more than 12,000% in the last 24 hours as Donald Trump's token fell.

The crypto market is very unpredictable. However, meme coins are even more unpredictable than other types of tokens. A meme coin can be up one day and then crash before the end of the next, and this is exactly what is happening with TRUMP and MELANIA meme coins.

Carson Block, founder and chief investment officer of Muddy Waters Capital, said he "wouldn't touch" meme coins.

As they nibbled miniature lobster rolls and sipped mezcal cocktails, the well-heeled guests toasted the coming reign of Donald Trump.

$TRUMP and $MELANIA, as with other meme coins, are volatile. At the time of writing, $TRUMP traded around $US27, a fall of over 60 percent from its $US73 high, but still well above its initial sale price. $MELANIA has fared less well and is trading at $2.30, less than one third of its initial sale price.