Elon Musk officially announces the establishment of the America Party, a new political movement aimed at challenging what he calls the "one-party system" driven by financial waste and corruption.
This move comes after he strongly criticized Trump's $3.3 trillion bill, which Musk called "crazy" and "destructive".
This announcement has shocked both the political and cryptocurrency circles.
Within just a few hours, a meme coin called America Coin (AP) — created on Pump.Fun — increased by 120%, reaching a market capital of over $18 million. Trading volume surged as speculators rushed in, betting on Musk's influence and spread.
Although Musk has not directly endorsed this coin, traders have seen this moment as symbolic, similar to Dogecoin's explosion during his social media campaign in 2021. Some have called it the "Dogecoin of American politics".
The rapid growth of this meme coin reflects the increasing interest in politically-themed meme assets, combining real stories with speculative trading.
As Musk enters the political arena under his own banner, meme coin enthusiasts seem ready to leverage this dramatization.
Users are warned to be cautious about potential pump-and-dump schemes surrounding this spreading political story.
