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- Ivanka Trump distanced herself from the $IVANKA token, calling it deceptive and exploitative.
- Ivanka warned against fake tokens as Trump meme coins sparked ethics debate.
- Crypto whales are dumping both $TRUMP and $MELANIA, cashing out millions in profits.
Ivanka Trump, US President Donald Trump’s daughter, on Thursday, issued an advisory regarding meme coin trading in the market. She warned and distanced herself from a fake crypto token named “$IVANKA.” She had pointed out having no involvement with the token and called it deceptive.
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 before the inauguration sparked ethical concerns in the industry. With billions already flowing into $TRUMP, market experts are questioning transparency around this venture. Token linked to the President went on to hit an all-time high (ATH) of over $75 before collapsing.
Ivanka Trump disowns $IVANKA
In the X post, Ivanka Trump stated that a fake crypto coin called “Ivanka Trump” or “$IVANKA” is being promoted without her consent or approval. Trump cleared it up that she holds no involvement with the coin. She mentioned that this face coin risks deceiving consumers and defrauding them of their hard-earned money.
She added that the unauthorized use of her name in the form of crypto is a violation of her rights. Trump labeled the promotion of $IVANKA as “exploitative” and announced legal steps to stop the misuse of her name. This move turns out to be crucial as the launch of the TRUMP family tokens has raised alarms among ethics watchdogs. Critics have also argued that over the formation of the Department of Government Efficiency (D.O.G.E).
It has come to my attention that a fake crypto coin called “Ivanka Trump” or “$IVANKA” is being promoted without my consent or approval.
To be clear: I have no involvement with this coin. This fake coin risks deceiving consumers and defrauding them of their hard-earned money,…
— Ivanka Trump (@IvankaTrump) January 23, 2025
Whales dumping $TRUMP, $MELANIA
The global crypto market witnessed a pre-inauguration celebration with the back-to-back launch of $TRUMP and $MELANIA meme coins. 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, 2025, from trading at less than $7 on January 18, 2025.
The OFFICIAL TRUMP price is still up by 469% in the last 7 days. It is trading at an average price of $36.93, at the press time. It is holding a 24-hour trading volume of $6.13 billion with a market cap of $7.3 billion.
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 is trading at an average price of $2.83, at the press time. 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, 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, 2025
Another whale dumped all of its MELANIA holdings to book a profit of $42.7 million. It spent 2,500 Solana (approximately $688K) to buy 5.2 MELANIA tokens at an average price of $0.13. However, it sold it an average price of of $8.34 for $43.4 million.
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Ashish Kumar
Ashish Kumar is a crypto and financial journalist with eight years of newsroom experience. He covers what’s happening with crypto markets, regulation, DeFi, and exchange ecosystems. He has worked with Coingape, Todayq, and Newsroompost. Ashish holds a PGDP in English Journalism from the IIMC. He has also interviewed industry figures including Arthur Hayes, Yat Siu, Austin Federa, and more.
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