Hyperstition #42 — July 1, 2025
Musk-Trump feud revives PvE meta, stock memecoins proliferate, and more.
Musk–Trump feud revives PvE memecoin meta
President Trump and Elon Musk reignited tensions after Senate passage of the “One Big Beautiful Bill.”
Traders rushed back into tokens tied to Trump and Musk’s June feud, sending several back over the $1M mark.
A renewed clash between Elon Musk and U.S. President Donald Trump has reignited one of the Solana memecoin ecosystem’s most prolific trading metas.
The feud, which first erupted in early June, resurfaced on June 30 following Senate passage of Trump’s budget bill, dubbed the One Big Beautiful Bill Act.
Musk condemned the legislation as an “insane” deficit-expanding measure and said he would form a new political party, dubbed the America Party, if the bill becomes law.
“Our country needs an alternative to the Democrat–Republican uniparty,” Musk posted on X, adding that the America Party “will be formed the next day” if the legislation is enacted.
Musk-themed tokens — a fixture of crypto markets since the Tesla CEO’s embrace of Dogecoin in 2020 — were among the day’s most active trades.
The market capitalizations of President Vs Elon (PVE), THE AMERICA PARTY (TAP), AMERICA PARTY (AP), and OFFICIAL MUSK (MUSK) all crested $1 million on July 1, according to DexScreener data.
They had been trading around or below $100,000 prior to the Musk and Trump’s renewed feud.
The current resurgence recalls a previous eruption between the two in early June. Musk escalated the feud by referencing Trump’s alleged ties to Jeffrey Epstein — a claim he then retracted.
The accusation triggered a wave of tokens, including Elongate (Elongate), PWEDO (Pwedo), and The Epstein Files (EPSTEIN), which launched on June 5. Most are now defunct.
PvE, which launched in April, traded under $100,000 for most of June but surged past $1.1 million over the weekend, before retreating to around $700,000.
TAP, a newer token launched during the original June feud, followed a similar trajectory — climbing from roughly $150,000 to over $5 million in a matter of hours.
On June 30, Musk added fuel to the narrative by amplifying a Kalshi prediction market asking whether he would launch a new political party in 2025. As of Tuesday afternoon, traders gave the proposition a 40% probability.
In Other News…
Tokenized stocks meme surge on Robinhood, Kraken launches
A secondary trading meta emerged this week following the rollout of tokenized stock products by multiple major exchanges.
Robinhood launched a tokenized trading platform built on Arbitrum, while Kraken and Bybit began offering more than 60 tokenized equities through xStocks.
Stocks including Nvidia, Apple, Meta, and Coinbase can now be traded as onchain assets across both centralized and decentralized platforms. xStocks also integrated with Solana-based DeFi protocols like Raydium, Jupyter, and Kamino.
That convergence helped fuel breakouts in meme assets like stockcoin (stockcoin), 401k (401K), memestock (memestock) and Solana Index Fund (SIF). Stockcoin, previously dormant, surged from $3,000 to over $4 million in two days.
First U.S. Solana staking ETF to launch Wednesday
REX Shares confirmed Monday it will debut the first U.S.-listed Solana staking ETF on Wednesday, giving investors regulated exposure to spot SOL along with native staking yield. ETF analysts say the product could mark a turning point for institutional altcoin adoption. The token sol etf coin (etf), launched June 30, briefly broke $500,000 in market cap before retracing to around $120,000.
