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.

By a factor of 2 to 1, you want a new political party and you shall have it!

When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.

Today, the America Party is formed to give you back your freedom. https://t.co/9K8AD04QQN

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.

The post Elon Musk Launches America Party — Meme Coin AP Surges 120% appeared first on BeInCrypto.

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