A meme coin called America Party (AP) has launched today on the Solana blockchain, and the new offering has seen an overwhelming gain of over 537% within the first 24 hours, according to data from CoinMarketCap.

After a public falling out and open criticisms of President Donald Trump, Elon Musk announced his plans to form a new political party. Here's what to know

"The America Party is formed to give you back your freedom," Musk said, days after Trump debated deporting him.