Airdrop Army

In a dramatic twist in meme coin land, Elon Musk’s recent camaraderie with Donald Trump has spawned an unexpected surge in Musk-inspired tokens. With Musk’s celebrity status and ongoing support for Trump’s presidential campaign, the tech billionaire has given meme coins an unforeseen jolt, sending certain tokens skyrocketing. As Musk speaks at Trump rallies across the U.S., digital assets tied to his persona — and even a potential government role he might hold under Trump, hilariously dubbed the “Department of Governmental Efficiency” (D.O.G.E.) — are having a field day on the market.

Dogecoin and the Surge of Micro Cap Musk Tokens

Dogecoin (DOGE), the original meme coin, saw an impressive 20% gain over the last week and has jumped 33% over the month. In fact, it hit a five-month high, brushing up close to $0.17. The rise coincides with Musk’s increased visibility with Trump, stoking imaginations about the tech mogul’s possible influence in politics.

But DOGE is just the beginning. Musk-inspired tokens across the board have surged in the past day, with Elon-themed assets now the fourth best-performing asset class. The aptly named Dogelon Mars (ELON) rose nearly 7%, Department of Government Efficiency (DOGE) added 17%, and even the Twitter AI-inspired Grok (GROK) saw a 7% gain. These spikes suggest a new wave of speculation tied directly to Musk’s antics and alliances.

Toad (TOAD): The Tiny Token’s 10,000% Spike

Musk’s support on social media knows no bounds, it seems, as his recent follow of the Solana-based meme coin Toad (TOAD) sent shockwaves through its market cap. The Pump.fun-launched token, valued at just $56,000 pre-Musk-follow, exploded by a mind-bending 10,000%, reaching a peak market cap near $6 million. Yet, as with many meme-fueled frenzies, the price plummeted minutes later to settle around $585,000 — still a massive gain. It has since moved sideways, slipping to a current cap of $438,000, though Musk continues to show subtle support by liking posts from its account.

A Memetic Market on the Move

The broader meme coin market has also shown impressive gains, even among tokens with no direct Musk link. Only five of the top 50 meme coins by market cap saw losses today, with the Trump-aligned MAGA coin seeing the biggest dip at 6%. On the winners’ side, Maga Hat (MAGA) surged by 19%, HarryPotterObamaSonic10Inu (BITCOIN) added 14%, Ethereum-based Mog Coin (MOG) rose 15%, and Popcat (POPCAT) and Shiba Inu (SHIB) posted gains of 14% and 9%, respectively.

The meme coin landscape continues to surprise, blending hype, humor, and the unpredictable influence of pop culture icons like Musk into a volatile mix that crypto investors can’t seem to resist. With Musk’s engagement in Trump’s campaign, there’s little doubt that we’ll see more Musk-motivated meme coins rallying in the coming weeks.