The cryptocurrency market witnessed an unexpected surge in trading activity as the public fallout between President Donald Trump and tech billionaire Elon Musk sparked a memecoin trading frenzy. The dramatic social media clash between these two influential figures has created a new meta in the crypto space, with traders capitalizing on the high-profile dispute.
Trading Surge Details
The feud-inspired memecoins generated over $355 million in trading volume within just 24 hours, according to data from DEX Screener. The Official Trump (TRUMP) token led the charge, ranking first on DEX Screener’s 24-hour trending list with approximately $228 million in volume. The token successfully reclaimed its $2 billion market capitalization after briefly losing it on June 5.
Following closely behind was the newly launched Kill Big Beautiful Bill (KBBB) token, which accumulated nearly $131 million in trading volume since its debut. This token, directly referencing the spending bill dispute that triggered the feud, has quickly established a market capitalization of around $12 million.
Other notable tokens capitalizing on the political drama include:
• “Official Musk” (MUSK): Recorded about $22 million in volume
• “President Vs Elon” (PVE): Generated approximately $30 million in swaps on PumpSwap pairs
• “new political party” (XPARTY): Accumulated just under $10 million in trades during its first day, referencing Musk’s X poll proposing a third US political party
Collectively, these five tokens accounted for 64% of the nearly $556 million in 24-hour volume registered among the top 10 tokens on DEX Screener’s trending list, demonstrating the significant market impact of the political dispute.
The Fallout Timeline
The memecoin rally followed a late-night exchange that effectively ended the Musk-Trump alliance that had been built during the 2024 presidential campaign. The dispute began when Trump criticized Musk’s opposition to his “One Big Beautiful Bill” spending legislation.
The situation escalated dramatically when Trump posted on Truth Social that he would “terminate Elon’s governmental subsidies and contracts” and described the entrepreneur as “crazy.”
Musk responded forcefully on X, claiming that Trump’s election victory owed much to his support and urging Congress to replace the president with Vice President JD Vance. In a particularly controversial move, Musk alleged, without providing evidence, that Trump appears in sealed Jeffrey Epstein files, stating that “The truth will come out.”
Trump’s response that Musk’s influence “has worn thin” confirmed the public split and created uncertainty regarding near-term policy expectations for digital asset firms that had anticipated cooperation between the two powerful figures.
Market Impact
The feud has had ripple effects beyond just memecoins. Bitcoin temporarily dipped below $101,000 during the height of the dispute, with the cryptocurrency market experiencing broader volatility. The Solana ecosystem, in particular, has been the primary platform for these feud-inspired tokens.
Traders continue to closely monitor both men’s social media accounts for any developments that could extend or reverse the memecoin rally tied to their dispute. With neither Musk nor Trump showing signs of de-escalation, market participants remain alert for further opportunities or risks in this politically charged trading environment.
The incident highlights how quickly political events can translate into market movements in the cryptocurrency space, particularly in the volatile and reactive memecoin sector.
