Elon Musk 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 follows his outspoken criticism of Trump’s recently signed $3.3 trillion Big Beautiful Bill, which Musk has called “insane” and “destructive.”

The announcement sent shockwaves across both political and crypto circles.

Within hours, a meme coin named America Coin (AP)—created on Pump.Fun soared 120%, reaching a market cap of over $18 million. Trading volumes spiked as speculators rushed in, betting on Musk’s influence and virality.

While Musk has not directly endorsed the coin, traders interpreted the timing as symbolic, mirroring Dogecoin’s surge during his 2021 social media blitz. Some are already dubbing it “the Dogecoin of US politics.”

The meme coin’s rapid rise reflects growing interest in politically charged meme assets, which blend real-world narratives with speculative trading.

As Musk enters the political arena under his own banner, meme coin enthusiasts are seemingly prepared to leverage the hype.

Users are cautioned to watch out for pump-and-dump schemes surrounding this viral political saga.

Mohammad Shahid is an experienced crypto journalist with a specialization in blockchain security. He covers a wide range of topics spanning everything from Web3 to retail crypto. As an experienced freelance journalist, he has worked on campaigns for several tier-1 exchanges, such as Bitget, and startups, including RankFi and HAQQ. Mohammad comes from an extensive technical background, with a master’s degree in Cyber Security Analysis from Macquarie University, where he majored in…

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