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.

The official TRUMP token on Solana is up nearly 9% on the day, hitting its highest price in more than 24 hours.

Speaking to reporters on Tuesday, President Donald Trump briefly addressed the TRUMP memecoin, which debuted on January 17, just days before his inauguration. “I don’t know much about it other than I launched it,” Trump remarked. “I heard it was very successful. I haven’t checked.”