Ivanka Trump Disowns $IVANKA Meme Coin, Calls It Deceptive and Exploitative

This comes in when President Trump and First Lady Melania had launched their official meme coins a few days ago. The launch of $TRUMP and $MELANIA

Ivanka Trump has disowned a fake crypto coin named “$IVANKA” that is being promoted without her consent or approval. She stated that she has no involvement with the coin and that it risks deceiving consumers and defrauding them of their hard-earned money.

Trump added that the unauthorized use of her name in the form of crypto is a violation of her rights. She labeled the promotion of $IVANKA as “exploitative” and announced legal steps to stop the misuse of her name.

This news comes after President Trump and First Lady Melania officially launched their meme coins ahead of the inauguration. The launch sparked ethical concerns in the industry, with critics arguing over the formation of the Department of Government Efficiency (D.O.G.E).

Meanwhile, the TRUMP family tokens saw a grand pre-inauguration celebration in the crypto market. FOMO buying took the Trump-linked token to breach the $10 billion market cap in just a couple of days. It surged as high as $75 on January 20 from trading at less than $7 on January 18.

The OFFICIAL TRUMP price is still up by 469% in the last 7 days. It trades at an average price of $36.93, at press time, with a 24-hour trading volume of $6.13 billion and a market cap of $7.3 billion.

The MELANIA token also saw a similar response after the launch but recorded a major crash in the after-party. The token price is down by 64% from its inception.

Official Melania Meme trades at an average price of $2.83, at press time, with a 24-hour trading volume of $94,143,183. Its market cap is hovering around $485 million.

Crypto whales are being seen dumping these meme tokens after booking huge profits. As the data shared by Spot On chain, a whale sold $24.9 million worth of approx 605k TRUMP and 741k MELANIA. It knocked a profit of $12.4 million.

A smart whale dumped $24.97M worth of 604,988 $TRUMP and 740,495 #MELANIA for a $12.4M net profit 4 hours ago!

This marks the end of the whale’s 3rd $TRUMP trade and 2nd #MELANIA trade, bringing total profits to:

– $26.7M (+44%) from $TRUMP with a 100% win rate

– $5.32M… pic.twitter.com/39GnOJnBbQ

— Spot On Chain (@spotonchain) January 23, at press time}