Trump–Musk feud becomes memecoin meta, leads to surge in trading volume

President Donald Trump and Elon Musk’s fallout caused a major spikes in memecoin launches and trading, with the largest tokens by trading activity generating over $355 million in volume over the past 24 hours, according to DEX Screener data.

As traders seized on the pair’s high-profile social media clash using Solana’s ecosystem, Official Trump (TRUMP) ranked first on DEX Screener’s 24-hour trending list, amassing roughly $228 million in volume. Additionally, the token reclaimed the $2 billion market cap level after losing it on June 5.

Kill Big Beautiful Bill (KBBB) got the second-largest daily volume, with nearly $131 million traded since its launch. KBBB has a market capitalization of approximately $12 million as of the time of this press release.

“Official Musk” (MUSK) placed fifth, posting about $22 million in volume, while “President Vs Elon” (PVE) held the ninth spot after clearing approximately $30 million in swaps on PumpSwap pairs initiated last month.

Rounding out the top ten, “new political party” (XPARTY) recorded just under $10 million in trades during its first day of listing. The memecoin is a direct nod to Musk’s X poll proposing a third US party.

Combined, the five tokens accounted for 64% of the nearly $556 million in 24-hour volume registered by the top 10 tokens in DEX Screener’s list.

Fallout drives volatility

The rally followed a late-night exchange that ended the Musk–Trump alliance built during the 2024 campaign.

Trump wrote on Truth Social that he would “terminate Elon’s governmental subsidies and contracts” and called the entrepreneur “crazy.”

Musk fired back on X, insisting Trump’s election owed much to his support and urging Congress to replace the president with Vice President JD Vance.

Musk then alleged, without presenting evidence, that Trump appears in sealed Jeffrey Epstein files, writing, “The truth will come out.”

Trump replied that Musk’s influence “has worn thin,” a remark confirming the public split and clouding near-term policy expectations for digital asset firms that had counted on their cooperation.

With Musk and Trump yet to de-escalate publicly, traders continue to monitor X and Truth Social posts for cues that could extend or reverse the meme-coin rally tied to their feud.