The AP token surges 420% amid the talk of the Musk Party: The American party’s crypto token spikes after Elon Musk is not officially involved, but has surged after he teased the new political party.
Skepticism grows around token legitimacy. Despite the market hype, the AP token lacks clear documentation, raising concerns about pumping and dumping another memo coin.
The controversy with Elon Musk is nothing new, and this time it’s all political clash. The American Party (AP) Crypto Token explodes more than 420% in just a few hours, riding a wave of excitement to form Elon Musk’s new political party, the American Party. Musk himself is not tied to tokens, but the announcement sparked a frenzy in the memecoin market, sending the AP purely into name associations.
Politics are uncertain, but the crypto crowd is gaining cash in today’s Moocoin as traders spin into altcoins. With market capitalization reaching $3.37 trillion and volume surged by 38%, the Memecoin sector alone has grown by 5.46% to $55.5 billion, breaking hype and momentum.
AP tokens are seeing massive spikes, but skepticism continues
The AP Token, which is currently priced at $0.02772, has surpassed 100% in 24-hour trading volume, reaching $23.78 million, increasing its market capitalization to around $300.03 million. However, there may be no clarity under the hype. The document is rated at just 48%, so the project lacks important details such as its purpose, roadmap, development team, and other development teams, raising serious questions about legitimacy.
Clear disclaimers on platforms like Coinmarketcap denies the official link between Elon Musk and America Party Token, traders have latched on speculation-fueled timing and branding. It is a classic memocoin play, exploiting real-world topics for fast and short-lived benefits.
Others join the party
Key Gaines includes Floki and Bonk, which rose 14.23% after the launch of Valhalla Mainnet, and increased 6.37% with strong ecosystem growth and a $50 million grant program. Pepe rose 5.25% due to whale accumulation, but Dogecoin and Sheeva Dogs won 6.3% and 3.43% respectively, fueling Elon Musk’s Pro Crypto stance and massive Shiv Burns.
Political drama adds more fire
Back at Elon Musk, his political ambitions are unaware of his rivals. President Donald Trump criticizes Musk’s plan, calling it a “silly” third-party agenda, only adding to the confusion. Interestingly, Musk was previously offered a role in leading government efficiency by the name Doge and echoed Dogecoin Meme. This kind of crossover between pop culture, code and politics continues to fuel these meme tokens.
A poll conducted by Kultus Insights revealed that 40% of Americans would consider supporting Musk if they launch a legitimate third party. 14% said they were likely to support it, while 26% were “somewhat likely,” indicating a prominent desire for political turmoil.
Just hype, is there any substance?
The American Party’s code appears to be riding a wave of political topics rather than offering real utility. With no official connections with Elon Musk and the lack of limited transparency in the project, it stands as another speculative memo coin fueled to hype rather than fundamentals. Analysts urged caution, comparing it to the Trump token pump-and-dump cycle he saw just before Trump took office, suggesting that the AP could follow a similar path.
