Musk announced the establishment of the "American Party" to fight against one-party dictatorship, and a large number of America Party meme coins emerged

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Musk (Elon Musk) stated earlier this week on the 1st that if the "crazy spending bill" (by Trump) passes, he would establish the America Party the next day, emphasizing that the US needs a party that truly represents the people's voice.

Musk Officially Announces Establishment of America Party

This morning, he officially announced the establishment of the "America Party" on X, directly targeting the current one-party system in the US, which can be seen as a formal break with President Trump. Musk wrote on X:

According to the previous online poll, about 2 to 1 users support establishing a new political party.

Talking about waste and corruption bankrupting our country, we live in a one-party system, not a democracy. Today, the America Party is established to return freedom to you.

Online Reactions and Doubts

Musk's post immediately sparked heated discussion on X, receiving over 21 million views and 77,000 likes in just a few hours. However, many users questioned the representativeness of the online poll. For example, the account @Brick_Suit pointed out that the poll "cannot accurately reflect the opinions of American voters" because most participants are Musk's own fans.

Additionally, some notable figures like US political consultant Roger Stone suggested that Musk should promote reforms within existing parties rather than starting from scratch. Stone wrote on X that while he respects Musk's contribution to free speech, he believes "election reforms should be promoted within the Republican Party, not by forming a new party".

Potential Impact of New Party on US Political Landscape

Some analysts believe that Musk, with his massive social media influence and resources, indeed has the ability to lead the rise of a third force. However, third parties in US history rarely gain a critical position in presidential elections, mainly because the US electoral system tends to favor competition between two major parties. According to CNN, third parties usually split votes but struggle to truly shake the two-party system.

Currently, the specific policy proposals and organizational structure of the "America Party" have not been published, nor has it been registered with the Federal Election Commission (FEC). Whether it can attract enough voter support in the future, or if this is just Musk's leverage for negotiating with Trump, remains to be seen.

America Party Meme Coin Appears

On the other hand, America Party meme coins have emerged in large numbers within hours. The highest market cap is on the Solana chain, which briefly approached $8 million and surged over 12 times. However, these are tokens created by the community, so please be aware of potential volatility.

Current Highest Market Cap America Party Meme Coin

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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