The price of Melania Trump’s official meme token $Melania fell by 27.5% on Thursday to just below $2.70, with a market cap of $474.4 million. The token has fallen about 47% since reaching a high of $5.09 on Monday, following its Sunday debut.

Ivanka Trump said Thursday that her name has been misused to promote a fake cryptocurrency and her legal team will take action to stop the unauthorized use. “This fake coin risks deceiving consumers and defrauding them of their hard-earned money,

Ivanka Trump is warning her social media followers to not fall for this crypto scam using her name. Ivanka Trump, the daughter of President Donald Trump, posted a statement to social media platform X on Thursday advising users that she has no involvement in a crypto coin using her name. She said that her legal team is looking into the issue.

Ivanka Trump posted on X on Thursday that a meme coin with her name on it isn’t real, following the prior launch of $TRUMP and $MELANIA tokens.

Ivanka Trump cautioned consumers that her name was being used to circulate a "fake" crypto token. The warning came after both President Donald Trump and First Lady Melania Trump promoted meme crypto tokens using their names.