Elon Musk officially announced the formation of the America Party, a new political movement aimed at challenging what he called the 'one-party system' driven by financial waste and corruption.
This move comes in the wake of his outspoken criticism of the 'Big Beautiful Bill' recently signed by Trump, valued at $3.3 trillion, which Musk described as 'insane' and 'destructive.'
The announcement created a stir in political circles and the cryptocurrency community.
Within hours, the value of the memecoin called 'America Coin' (AP), created on the Pump.Fun platform, rose by 120%, reaching a market value of over $18 million. Trading volumes surged with speculators rushing in, betting on Musk's influence and wide reach.
Although Musk has not directly endorsed the memecoin, traders interpreted this moment as symbolic, reflecting the rise of Dogecoin during its widespread popularity on social media in 2021. Some are already calling it the 'Dogecoin of American politics.'
The rapid rise of the memecoin reflects the growing interest in politically motivated memecoins, which combine real-life narratives with speculative trading.
As Musk continues his moves, it seems that memecoin enthusiasts are on high alert to capitalize on the media frenzy. Users are warned of pump-and-dump schemes surrounding this viral political issue.
Do you have any comments on Elon Musk and the launch of 'America Party'?
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