Elon Musk Launches American Party — Does the $AP Memecoin Skyrocket?

Jakarta, Pintu News – Elon Musk’s official announcement of the formation of the American Party has rocked the political scene and crypto markets. The new party is aimed at confronting what Musk calls a “uniparty” system rife with fiscal waste and corruption.

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New party formed after criticism of Trump

Elon Musk, the tech billionaire, has just announced the formation of the American Party through a post on X. The move comes after Musk asked his followers if there was a need for a new political party.

Musk described the formation of the party as a direct challenge to the bipartisan system that he sees as rife with waste, corruption and the erosion of individual freedoms. Musk’s criticism of the current political system intensified after he strongly criticized the $3.3 trillion “Big Beautiful Bill” recently signed by President Donald Trump.

The bill, which has bipartisan support, increases spending on defense and infrastructure and increases the national debt. Musk criticized any member of Congress who promises to reduce government spending but then supports the largest debt increase in history.

Read also: This Week in Crypto: From New ‘Big Beautiful Bill’ Regulations to Solana ETFs and Stock Tokenization

The Rise and Fall of the America Coin Meme Coin (AP)

Shortly after Musk’s announcement, a meme coin called America Coin (AP) jumped 120% in value. The coin, which was created on the Pump.Fun platform, briefly reached a market capitalization of over $18 million as speculators flocked to buy it.

Although Musk did not directly endorse the coin, the timing of its launch to coincide with his political announcement led many traders to consider it symbolic. However, the sharp rise did not last long.

America Coin (AP) has plummeted by 72% in a 24-hour chart, with a market capitalization now below $2 million. This drop highlights the extreme volatility and ephemeral nature of political-related meme assets. This phenomenon shows that meme assets tied to real political narratives can experience significant price fluctuations.

Read also: Peter Schiff Predicts Stock Market Crash, How Will Bitcoin Fare?

Conclusion

Elon Musk’s formation of the American Party and the dramatic fluctuations of America Coin (AP) highlight the significant influence political events have on crypto markets. These events teach the importance of caution and a deep understanding of market dynamics before engaging in speculative and highly volatile investments.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• BeInCrypto. Elon Musk’s ‘America Party’ Meme Coin Surge. Accessed on July 7, 2025
• Featured Image: Britannica