A meme coin called America Party (AP) has launched today on the Solana blockchain, and the new offering has seen an overwhelming gain of over 537% within the first 24 hours, according to data from CoinMarketCap.
The token spiked as high as $0.0415 but settled to trade at around $0.033, with total volumes exceeding $21 million across both Uniswap and KCEX.
America Party (AP) token sees extreme volatility post-launch, dropping nearly 10% after early surge on KCEX exchange.
The price increase is the result of excessive excitement and speculation rather than fundamental factors. The coin is based on the newly announced “America Party”, a political party billionaire Elon Musk wants to launch.
That said, it’s essential to note that this coin does not have official backing from Elon Musk or any of his political initiatives. It is an unofficial meme coin named after Musk that has emerged in the wake of the attention around his concept.
Just a day earlier, Elon Musk announced that he was forming the America Party to counter President Donald Trump’s controversial tax and spending bill. Musk said the party would give people’ back their freedom’ and also confirmed that he is pro-Bitcoin, coming under heavy fire from the crypto community.
According to new polls, roughly 40% of Americans said they would support Elon Musk if he were to assemble a third political party to challenge the Republicans and Democrats.
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The survey conducted by Quantus Insights indicated that 14% of voters stated they were “very likely” to support, or even vote for, a political body initiated by the head of Tesla. In comparison, 26 % indicated they were “somewhat likely.” An additional 38% indicated they were not likely to support Musk, while 22% responded that they were “unsure.”
However, President Donald Trump is done being quiet about it. On June 6, President Trump responded to Elon Musk on Truth Social, writing that he was “saddened to watch Elon Musk go completely off the rails.” He added, “The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS,” further criticizing Musk.
As of now, America Party coin remains a speculative asset with no official roadmap or utility.
Disclaimer: America Party coin is a meme token with no official affiliation to Elon Musk or any political organization. This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in cryptocurrency.
