What you gotta know:
- Elon Musk’s pops is jumping on the memecoin train with ‘MUSK IT’, aiming to raise $200M for projects that go ‘Beyond Rockets’ 🚀.
- The Musk Institute, led by Errol, wants to build flying cars and other sci-fi stuff. Elon, who knows?!
- Errol & partner Nathan say, “No pump and dump!” before teaming up with the Middle East MUSK IT creators.
Get this: Elon’s dad, Errol Musk, is pushing a memecoin using the family name to rake in up to $200M for his wild engineering dreams. Father and son might not be on speaking terms, but they’re still cashing in! 💰
Errol and his sidekick Nathan Browne are throwing their weight behind ‘MUSK IT’, with a goal to create the Musk Institute—a for-profit brain trust where Errol calls the shots. According to Fortune, it’s all about going ‘Beyond Rockets’ and building flying cars. Who needs Elon when you’ve got Errol?
Errol’s got big plans to work with UAE royalty on some fancy engineering projects, but the details are still hazy. The MUSK IT token was born in December by a Middle East crypto firm. Errol and Nathan joined the party later, after dreaming up the Musk Institute.
As of Friday, MUSK IT has a $25M market cap, with $79M in trading volume and a 130% price hike in 24 hours. Issued on Solana’s Pump.fun, there’s one billion tokens out there. Around 44,000 people hold MUSK IT, and the top 10 wallets have over 20% of the tokens—worth over $7M.
After Fortune’s article, the price skyrocketed from 1¢ to 20¢, but now it’s back down to 2¢. The real question is, how does MUSK IT work? Errol, Nathan, and the MUSK IT site haven’t spilled the beans on the token’s inner workings.
Errol’s move is just another celebrity token riding the hype wave before crashing. But hey, he made sure MUSKIT wouldn’t be a “pump and dump.” Famous last words, right?
The MUSK IT site flaunts Elon’s creations like SpaceX rockets and Tesla Cybertrucks. It’s all about Mars, apparently, with a “Base Opening Soon” note on the homepage. Elon might not be involved, but his legacy lives on in MUSK IT.
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2025-01-31 11:16