Recently, TAP coin experienced a short-term trading frenzy and a sharp price increase due to rumors that 'Musk might establish a new political party.' However, the price failed to sustain, indicating that market sentiment quickly faded and turned cautious. Looking at the mid-term trend, without substantial application support, TAP coin may return to the previous range-bound pattern within 0.00033–0.00036 USDT, with the previous volatility appearing more speculative in nature. Investors are advised to act cautiously and wait for signals of further policy or application support to mitigate the risk of a correction if the news catalyst dissipates.

In early July, rumors that 'Musk might establish a new political party, The America Party,' drew significant market attention. On July 1, TAP coin's daily trading volume surged, with the price reaching an intraday high of 0.000386 USDT, over 44% higher than the previous day's top, indicating a rapid concentration of market sentiment on this intersection of politics and crypto. However, the closing price that day was almost unchanged from the opening, highlighting a fierce short-term battle between bulls and bears and suggesting that bullish expectations were quickly digested.

Elon Musk's feud with President Trump over the Big Beautiful Bill has sparked speculation about the potential launch of a new political party, "The America Party" (TAP). As tensions rise, meme coins related to TAP are gaining traction, with prediction markets indicating a 41% chance of Musk forming the party. The conflict is influencing the meme coin community, with existing coins like 'The American Party' experiencing volatility. Overall, the intertwining of US politics and crypto is expected to drive a meme coin boom amid this ongoing saga.

Elon Musk’s ‘The America Party’ Could Lead to a Meme Coin Boom, If Launched

During the rumor's fermentation, there were two more surges on July 3 and July 6, reaching highs of 0.0003987 and 0.0005133 USDT, respectively, but both closed with long upper wicks, showing that bulls failed to maintain control. The subsequent pullback to around 0.00023, accompanied by heavy selling and another spike in trading volume, reflected concentrated profit-taking and a swift shift in market sentiment from excitement to caution.

Since mid-June, TAP coin has generally traded in the 0.00033–0.00036 range on the daily chart, with lackluster activity and no clear direction. Although political news temporarily amplified volatility, it did not alter the prevailing mid-term downtrend. If there is no substantial token application support related to the political party, the current volatility appears to be a short-lived, speculation-driven shock. Investors should be on guard for a possible return to equilibrium or continuation of the previous narrow-range pattern after the news effect fades.

Tap Protocol

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Tap Protocol Price: TAP Live Price Today | TAP Market Cap & Chart Analysis | Bybit-ge

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TAP price today is 0.12, with a live price change of -17.95 in the last 24 hours. Convert, buy, sell and trade TAP on Bybit-ge.

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