Memecoin traders have found their next muse as Tesla board members approved a $1 trillion pay package for CEO Elon Musk.
Within hours of shareholders approving the deal on Thursday, at least half a dozen new tokens with names like “TRILLIONS,” “Elon’s $1” and “MUSK” flooded decentralized exchanges on Solana, Ethereum, BNB Chain and other blockchains, DEXTools data shows.
Trade data shows that several versions of the TRILLIONS/SOL rose as much as 190% in 24 hours, with total volume across pairs topping $20 million on Friday morning.
However, some of these tokens lost all of their perceived value just minutes after going live as creators siphoned off liquidity to effectively pull off an exit scam.
The mania reflects a familiar pattern in crypto’s cultural economy, where big mainstream moments involving Musk often spill over directly into the memecoin markets.
Traders are rushing to mint and trade tokens that reflect trending news — or, in this case, the billionaire’s historic compensation package, which will give him 12 tranches of Tesla stock if the company hits milestones up to an $8.5 trillion market cap in the coming years.
While most of these Solana tokens are likely to be short-lived, some have already drawn thousands of transactions in just a few hours, echoing past spikes linked to Musk’s X antics or Tesla’s AI ambitions.
Tesla’s shareholder approval – with over 75% support – follows months of debate over Musk’s growing influence across Tesla, xAI, SpaceX and X.
The meeting also included a vote to allow Tesla to invest in xAI, deepening the billionaire’s ecosystem across businesses that increasingly overlap with crypto and artificial intelligence.
However, most of these tokens lack liquidity and are unlikely to last beyond the news cycle.
But as Musk continues to dominate both corporate headlines and internet culture, memecoins bearing his name seem to keep resurfacing, whether tied to Tesla milestones or the next viral moment on X.
