Elon Musk has officially announced the formation of the America Party, a new political movement aimed at challenging what he called a “one-party system” driven by fiscal waste and corruption.
The move comes after Musk's harsh criticism of former President Donald Trump’s recently signed $3.3 trillion Big Beautiful Bill, which Musk labeled “insane” and “destructive.”
Just hours after the announcement, a meme coin named America Coin (AP) — created on Pump.Fun — soared by over 120%, reaching a market cap of more than $18 million.
Trading volumes spiked as speculators rushed in, betting on Musk’s influence and the viral nature of his political entry. While Musk has not directly endorsed the coin, traders interpreted the timing as symbolic — much like Dogecoin’s historic rise during Musk’s 2021 social media frenzy.
Many in the crypto space are now dubbing AP the “Dogecoin of US Politics.”
The coin’s rapid growth underscores a growing trend of politically driven meme coins, where real-world events fuel speculative surges.
However, users are strongly cautioned to beware of potential pump-and-dump schemes surrounding this viral coin and its sudden popularity.
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