A basket of 37 meme stocks tracked by Bloomberg has surged 45% off a March bottom.
Trump's new social media network, Truth Social, was the top free app in Apple's App Store.
Waves of volatility have hit the SPAC industry as the mania faded in the past year.
Dealmakers aborted at least 14 planned listings this month alone for so-called special-purpose acquisition companies.
The trading was sparked by a report the former president's media group is in talks to raise as much as $1 billion.
Individual investors put a record $2.22 billion into the market on Tuesday.
Even those who are not fans of Trump's politics are investing in ventures he's involved in.
Former President Donald Trump's media company is proving a hit with day traders.
Individuals have stuck to their dip-buying ways despite Wall Street's worries that the market is overheated.
If not over, the online obsession with meme stocks appears to have plummeted in recent weeks.
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