Elon Musk's involvement with Donald Trump's presidential campaign has sparked a surge in meme coins. A Solana token launched through Pump.fun saw a 10,000% spike, while other Musk-inspired tokens also experienced double-digit gains. Dogecoin (DOGE), which has a ticker identical to the acronym for the Department of Governmental Efficiency (D.O.G.E.), climbed nearly 20% in the past week and hit a five-month high. Musk-inspired tokens are the fourth best-performing crypto asset class in the past 24 hours, according to CoinGecko. Additionally, several meme coins unrelated to Musk have also performed well, with MAGA and BITCOIN seeing gains of 19% and 14% respectively.



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