Trump and Musk's 2-Hour X Space Policy Chat Sparks Meme Coin Frenzy and Position Building
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Trump and Musk's 2-Hour X Space Policy Chat Sparks Meme Coin Frenzy and Position Building
A large number of meme token positions have been established, but with significant price volatility, such as Yeah, New World Order, Dark Space, etc.
Navigating Web3 tides with focused insightsBy Weilin, PANews
At 8:40 a.m. on August 13, the highly anticipated X Space session between Trump and Musk finally began after a week of buildup. Originally scheduled to start at 8 a.m., users were initially unable to access the event. Musk cited a "massive cyberattack," causing a delay of approximately 40 minutes.
The unscripted interview did not mention Bitcoin or cryptocurrency. Real-time data showed over 1.3 million people listening to the conversation on X. Prior to the interview, Polymarket users had given a 65% probability that "cryptocurrency" would be discussed, with more than $600,000 wagered on the topic.
However, just before and during the dialogue, while existing political meme tokens linked to Trump—such as MAGA and TRUMP—saw clear gains, a wave of new meme tokens were also launched, experiencing significant volatility. Examples include Yeah, New World Order, and Dark Space.
What Did Trump and Musk Discuss?
Assassination Attempt
Trump said surviving the assassination attempt made him "more believing" in God. After praising the sniper who killed the suspected shooter, Musk repeatedly tried to get Trump to criticize the Secret Service's failure. Interestingly, Trump mostly praised them instead.
Immigration Policy
About 20 minutes into the conversation, Trump finally mentioned his Democratic rival Kamala Harris, attacking her and current President Biden for what he described as lax immigration policies that allow undocumented immigrants to cross the U.S.-Mexico border.
Praising Musk and Tesla
Previously critical of electric vehicles, Trump praised Musk and Tesla, calling their products "incredible." He also lauded Musk’s intellect, saying, “Your mind is absolutely rich. You and I could talk about rockets, tunnels, and electric cars,” referencing many of Musk’s business ventures.
Musk Proposes Role in Government to Cut Federal Spending
This highlights Musk’s growing involvement in U.S. politics. Musk called for the creation of a government committee to ensure efficient use of taxpayer funds and volunteered to play a key role. “I’d be delighted to contribute to such a committee—if it’s formed, I’d be very happy,” Musk said. Trump praised the idea, calling Musk “the greatest cutter.”
Praising Argentina’s President
Both Trump and Musk expressed admiration for Argentina’s libertarian president, Javier Milei. Musk and Milei have met several times in the U.S.
Inflation Has “Destroyed” Lives; Prices Must Come Down
Trump reiterated his claim of having a good relationship with Russian leader Vladimir Putin. On inflation, Trump stated, “People are being utterly destroyed by inflation. We must bring prices down.” Regarding the oil and gas industry, Musk said, “I don’t think we should disparage the oil and gas industry.” He noted the economy depends on these energy sources but added that due to environmental pollution, he hopes the U.S. will transition toward a “more sustainable economy.”
Musk Endorses Trump
Besides other policy topics, Musk concluded the interview by reflecting on his political journey. “I wasn’t very interested in politics before,” Musk said. He described himself as a moderate and suggested listeners like him should vote for Trump.
TRUMP, MAGA Surge; Wave of Political Meme Tokens Launched
As of 11:30 a.m. on August 13, MAGA (TRUMP) was up 3.97% over 24 hours, MAGA (MAGA) rose 8.21%, and Super Trump Coin (STRUMP) gained 6.65%.
Compared to these established political meme tokens, the following Trump- and Musk-related meme tokens saw a “frenzy” of launches on Solana by 9:20 a.m. on August 13:
@realDonaldTrump (RDT)
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Launch Time: 23:47 (August 12)
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Transactions: 49,426
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Volume: $8.9 million
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Market Cap: $981,000
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24H Change: +2,080%
GROK 2 (GROK2)
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Launch Time: August 12
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Transactions: 903,096
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Volume: $14.4 million
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Market Cap: $1.5 million
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24H Change: +106%
YEAH (Yeah)
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Launch Time: 8:56
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Transactions: 21,762
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Volume: $907,000
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Market Cap: $751,000
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24H Change: +1,027%
New World Order (NWO)
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Launch Time: 8:43
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Transactions: 33,229
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Volume: $465,000
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Market Cap: $27,000
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24H Change: -56.14%
Dark Space (DSPACE)
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Launch Time: 7:37
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Transactions: 57,076
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Volume: $2.3 million
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Market Cap: $7,800
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24H Change: -89.27%
From the performance of these meme tokens, price swings have been extreme. Sharp declines often follow once the meme hype fades—users should DYOR.
On Monday, Trump made a "return" to X, posting multiple updates including a campaign video, which partly fueled the rise of related meme tokens. At time of writing, Trump’s odds of winning on prediction market Polymarket stood at 46%, below Harris’s 52%.
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