(NewsNation) — President-elect Donald Trump's newly created cryptocurrency token has soared to much than $10 cardinal successful marketplace worth connected his 2nd Inauguration Day.

Trump announced the caller $TRUMP meme coin Friday, writing connected Truth Social: "It’s clip to observe everything we basal for: WINNING! Join my precise peculiar Trump Community."

On Sunday, Melania Trump launched her ain meme coin, $MELANIA, writing connected X: "The Official Melania Meme is live! You tin bargain $MELANIA now."

Here's what to cognize astir the bizarre satellite of meme coins and the ethical concerns astir the president's involvement:

What is simply a meme coin?

Meme coins are cryptocurrencies inspired by net trends oregon jokes. They person nary intrinsic value. They're worthy what idiosyncratic other is consenting to pay. In immoderate cases, that tin beryllium a lot.

Dogecoin, the archetypal meme coin, was meant arsenic satire to mock Bitcoin, but its viral popularity has led to existent gains for many. DOGE has a existent marketplace headdress of roughly $55 billion.

Unlike stocks, which correspond an ownership stock successful a company, meme coins' worth are based connected hype, making them notoriously volatile and risky to put in.

Are the Trump meme coins worthy anything?

The Trump meme coins started selling for little than $10 each earlier surging supra $70 connected Sunday. By Monday morning, the terms was beneath $50.

The Melania coin was trading for astir connected $8 Monday morning, down from $13 connected Sunday evening.

Those terms swings underscore the volatility that makes meme coins truthful risky for buyers.

A assemblage enactment was aboriginal added to Melania's announcement connected X, reading: "Buying this token is incredibly risky and volition apt effect successful the nonaccomplishment of funds."

On the meme coins' authoritative websites, imaginable buyers are warned that Trump and Melania's crypto coins are "digital collectibles intended to relation arsenic an look of enactment for and engagement with the values embodied by the awesome $TRUMP" and the awesome "MELANIA."

The disclaimers spell connected to accidental the tokens "are not intended to be, oregon to beryllium the taxable of, an concern opportunity, concern contract, oregon information of immoderate type."

Instead, Trump's meme coin website encourages buyers to, "Celebrate our triumph and person fun!"

Why did Trump motorboat a meme coin?

Trump is expected to beryllium the astir pro-crypto president successful history, and his foray into the abstraction suggests arsenic much. The task is besides apt to enrich him personally, raising morals issues.

"The tokens released by Donald and Melania Trump look to symbolize enactment for the integer currency sector. However, the instauration of these coins during the statesmanlike inauguration raises concerns astir imaginable conflicts of interest," Grzegorz Drozdz, marketplace expert astatine Conotoxia, told CNBC.

Justin D'Anethan, an autarkic crypto expert based successful Hong Kong, told Reuters: "While it's tempting to disregard this arsenic conscionable different Trump spectacle, the motorboat of the authoritative Trump token opens up a Pandora's container of ethical and regulatory questions."

The Trump meme coin was organized by CIC Digital, an affiliate of the Trump Organization. CIC Digital and different institution collectively ain 80% of the Trump meme coins and "will person trading gross derived from trading activities," according to the authoritative website.

The coin’s website said 200 cardinal Trump meme coins are presently available, with plans to contented 1 cardinal implicit the adjacent 3 years. 

Felix Salmon, main fiscal analogous astatine Axios, put it similar this: "Trump has conscionable delivered a masterclass successful the quality of a president to crook powerfulness into wealth."