US President Trump and Elon Musk are feuding again over the Big Beautiful Bill, with Musk threatening to launch a new political party if it passes. The America Party (TAP)-themed meme coins are already spiking in anticipation of the new initiative.
Crypto and US politics are becoming increasingly entangled, and the latest Musk-Trump saga can potentially create a new meme coin season, for better or worse.
Musk and Trump Fallout Again
Tesla CEO and crypto proponent Elon Musk publicly feuded with President Trump nearly a month ago, leading to a swarm of new meme coins.
Musk attempted to reconcile with the President shortly after, calming the markets, but conflict is starting again. As both parties hurl acrimonious rhetoric at the other, the meme coin community is taking full advantage.
Specifically, Musk is a staunch opponent of the Big Beautiful Bill on several levels. He opposes its high spending for ideological reasons, in line with his stance as a deficit hawk.
As an electric car manufacturer, he also dislikes the bill’s provisions for taxing green energy. Musk firmly believes that the bill will damage the US economy.
At this point, the feud is probably personal for both individuals. The US president has even threatened him with deportation. While the two men could reconcile again, at the current level, this fallout will likely extend.
Yesterday, Musk vowed to found a new political party if Trump’s budget bill became law. Musk already teased this action during the last feud, proposing to call this group “The America Party” (TAP).
Prediction markets like Kalshi already had odds on Musk creating TAP, and these spiked to 41% today. The Tesla founder also retweeted Kalshi odds, showing how serious he is about forming this new political party.
During last month’s fallout, a meme coin called ‘The American Party’ emerged on Pump.Fun’s decentralized exchange, PumpSwap. It even gained $5 million in market cap, but quickly flatlined after the feud seemingly ended.
After Musk’s tweets today, the TAP meme coin is rallying again.
On the surface, then, it looks like a straightforward opportunity. Elon Musk is a huge figure in the meme coin community, and his split with Trump is generating a lot of memes.
So, any developments in this feud, and also Musk forming a new political party, could potentially lead to a meme coin spree. On DexScreener, the trending meme coins show a clear trend of being inspired by American political events and stories.
The meme coin impact of today’s conflict is already very visible. Dogecoin, which is highly associated with almost anything Elon Musk does, dipped nearly 4% after Trump’s deportation threats.
So, a major political move by the Tesla founder could also impact DOGE in any direction.
Overall, the US crypto market right now is heavily driven by political speculation.
So, it seems evident that this public conflict between the US president and the richest man in the world will, to some extent, have a notable impact on the meme coin market.
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