Trump and Musk feud boosts memecoin trading
Traders are watching closely as the public dispute between Trump and Musk drives volatility in memecoin markets.
The public fallout between Donald Trump and Elon Musk has triggered a surge in memecoin activity, with trading volumes soaring to over $355 million in the past 24 hours. The top five memecoins linked to the feud accounted for 64% of the $556 million total daily volume, according to data from DEX Screener.
‘Official Trump’ led the pack, generating around $228 million in trading volume and reclaiming a $2 billion market cap. Other popular tokens included ‘Kill Big Beautiful Bill’ with nearly $131 million traded, ‘President Vs Elon’ with about $30 million, and ‘Official Musk’ at $22 million.
A newly launched memecoin, ‘new political party,’ also attracted close to $10 million on its first day.
The spike followed a sharp social media exchange where Trump threatened to end Musk’s government subsidies, and Musk fired back with allegations and calls for political change. The dispute has introduced fresh volatility to the memecoin market, with traders closely watching social platforms for further developments.
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