Memecoin America Party surged due to American Independence Day and the political frenzy from Elon Musk

Elon Musk swore to establish a third party if the Big Beautiful Bill is passed, and yesterday it officially became law. On the occasion of America's Independence Day on July 4th, a series of memecoin themed "America Party" are witnessing a frenzy of trading.

Nevertheless, the community survey organized by Musk shows that more than 60% support this plan – a promising number but not decisive. His previous efforts to promote political races at the local level have all failed, and this time the goal is much more difficult.

Can Elon Musk form a third party?

After all, one of President Donald Trump's greatest legislative achievements is about to become law.

Yesterday, the Big Beautiful Bill officially passed the final vote, paving the way to become law. However, Elon Musk surprised the public by announcing he would "go his own way" with Trump on this issue, while stating that he would establish a new party called America Party to challenge the position of the Republican Party.

Musk has been talking about this third party throughout the past week and is actively surveying the community's response.

Currently, about 60% of participants support the plan, but it is worth noting that Elon Musk is the owner of platform X. In other words, the plan does not seem to have overwhelming support – even from his loyal community.

Of course, Elon Musk is a major influencer in the world of memecoin and his plan to establish a new party has inspired the creation of a corresponding token.

When the CEO of this technology announced the plan to establish a new organization, AP (America Party) surged over 150%. This token has reached a market capitalization of 10 million dollars and is now the hottest trending coin on DexScreener.

Memecoin America Party (AP) | Source: DexscreenerThis meme coin based on Solana is one of the five “America Party” tokens trending after statements by Elon Musk. Yesterday was also American Independence Day, which further fueled interest in patriotic-themed memecoins.

Whatever the reason, the previous conflicts between Musk and Trump had once driven the trading activity of memecoin and this time he seems very serious about his plans:

"One way to implement the plan to establish a third party is to focus intensely on just 2 or 3 Senate seats and 8 to 10 House districts. With the current extremely narrow legislative margins, that is enough to become the deciding vote for controversial legislation – ensuring that they truly serve the will of the people," Musk shared on social media.

However, Musk may face a lot of difficulties if he wants to establish a third political party in America. When he was still a close ally of Trump, Musk attempted to promote some Republican races in Wisconsin, but completely failed.

Musk still possesses abundant resources, but this challenge will be much harder.

Nevertheless, traders on Pump.fun are taking the opportunity to speculate on Musk's America Party plan through some crypto transactions.

In the coming weeks, the viral wave may continue to spread in the memecoin enthusiast community – but it will also bring along the risk of scams and more pump&dump schemes.

Dinh Dinh