🚨 Elon Musk’s Dad Eyes $200M Raise With "MUSKIT" Memecoin!

Elon Musk’s father, Errol Musk, is reportedly aiming to raise $200 million through a memecoin called Musk It (MUSKIT). He plans to use that cash to fund a for-profit think tank called the Musk Institute—but there’s a catch: Elon has zero involvement.

Launched Quietly, Losing Steam

The “Musk It” token debuted in December 2024 on the Solana network, but it’s down more than 50% from launch. It’s currently trading around $0.07, with a $70 million market cap, according to CoinMarketCap.

Hype vs. Reality: The Trump family’s memecoins exploded, partly because of Donald’s huge following. Without Elon’s official stamp, can “Musk It” really catch fire? Sure, the Musk name is big. But crypto watchers say Elon’s personal nod typically drives the frenzy. Errol might not get the same effect.

Memecoins remain the “lottery tickets” of crypto—everyone’s chasing that chance of a 1,000x overnight. Fact is, #Memecoins usually skyrocket during launch releasing their biggest potential, then slowly cooling off and potentially rebuilding hype in the long run through clever developments and use cases. Considering the MUSKIT launch, which didn't start with a BANG, make sure to be super careful if you even consider an investment, it'll probably backfire. Yes, it is currently gaining some momentum, but it’s probably just riding on the fading hype of the $TRUMP coin and the boost of some news articles.

Stay safe & alert by following and remember, always DYOR! #MUSKIT #Memecoin #Elonmusk #Altcoins