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 decision comes just a day after Musk asked his followers on X whether a new political party should be created.

Announced on Saturday via a post on X, the tech billionaire framed the move as a direct challenge to what he calls the “uniparty” establishment, a bipartisan system he accuses of runaway spending, corruption, and erosion of individual freedoms.

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

The formation of the America Party escalates Musk’s feud with President Donald Trump. Musk has also been a strong opponent of Trump’s newly signed $3.3 trillion “Big Beautiful Bill.” The bill passed with bipartisan support, dramatically expanding defense and infrastructure spending while ballooning the national debt.

Every member of Congress who campaigned on reducing government spending and then immediately voted for the biggest debt increase in history should hang their head in shame!

And they will lose their primary next year if it is the last thing I do on this Earth.

Interestingly, within hours of Musk’s announcement, a meme coin named America Coin (AP), created on Pump.Fun, soared 120%. The coin briefly reached a market cap of over $18 million as speculators rushed in.

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.”

However, the rally did not last long. America Coin has plunged 72% on the 24-hour chart, with its market cap now below $2 million. The drop highlights the extreme volatility and fleeting nature of politically charged meme assets.

The meme coin’s rapid rise reflects the growing interest in politically charged meme assets. This blends real-world narratives with speculative trading.

Meme coin enthusiasts are actively leveraging the hype as Musk steps into the political arena under his own banner. Users should remain vigilant, as pump-and-dump schemes are likely to emerge around this rapidly unfolding political saga.

The post America Party Launch by Elon Musk Sends AP Meme Coin Flying, Then Crashing appeared first on BeInCrypto.

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