- Ivanka Trump denounced the unauthorized IVANKA meme coin, clarifying she has no involvement and pursuing legal action.
- Despite her disavowal, the token surged 40% in an hour, reaching a $1.1M market cap and $1.6M trading volume.
- The crypto market continues to face scams, with fake celebrity-linked tokens fueling pump-and-dump schemes.
Ivanka Trump has publicly condemned an unauthorized meme coin, dubbed IVANKA, that falsely claims connections to her brand. In a post on X (formerly Twitter), she clarified her lack of involvement and stated that her legal team is pursuing action against the creators.
“This fake coin risks deceiving consumers and defrauding them of their hard-earned money,” Trump wrote, citing the unauthorized use of her name and likeness as a violation of her rights.
Unauthorized IVANKA Token Gains Attention Amid Trump Meme Coin Hype
The emergence of the IVANKA token comes on the heels of the meteoric rise—and subsequent fall—of TRUMP and MELANIA, meme coins tied to Donald and Melania Trump. These Solana-based tokens had recently caused a stir in the crypto market, with TRUMP reaching a multi-billion-dollar market cap before losing over 50% of its value in just a few days.
While no official tokens from Ivanka or other Trump family members have been announced, the launch of imposter tokens like IVANKA has added to confusion among traders. Despite Trump’s denouncement, the token’s market cap surpassed $1.1 million with a trading volume of $1.6 million over the past day, per DexScreener. Remarkably, the token surged 40% in an hour after her post brought it into the spotlight.
Celebrity Tokens and Crypto Scams: A Growing Issue
The crypto market has seen an uptick in fraudulent meme coins falsely tied to celebrities. Over the past year, scammers have used hijacked celebrity accounts to launch pump-and-dump schemes with tokens falsely linked to public figures like Iggy Azalea and Kylian Mbappé.
The rise of TRUMP and MELANIA tokens over the weekend has only fueled speculation of more Trump family-related coins entering the market. However, Ivanka Trump’s explicit disavowal of the IVANKA token highlights the need for caution as the crypto space continues to grapple with fake projects targeting unsuspecting investors.
Final Thoughts
The IVANKA token’s surge amidst Trump’s disavowal underscores the speculative frenzy surrounding celebrity-linked meme coins. As scammers continue to exploit public figures’ names, traders must remain vigilant to avoid falling victim to potential fraud. Ivanka Trump’s strong stance against the project serves as a reminder to exercise caution in this volatile space.
