MUSKIT: How Errol Musk Is Following Trump’s Lead in the Memecoin Race

• Errol Musk enters the memecoin market with MUSKIT, following trends set by Trump and Melania’s tokens.
• With plans to raise $200M, Errol Musk aims to fund the Musk Institute through Musk It token sales.
• Musk It token surged 214% in 24 hours, gaining $82.24M in trading volume since its launch in December 2024.

The memecoin market is the new addition to the businessman Errol Musk, being the father of Elon Musk. It is with Musk It (MUSKIT) that he meant to get away with the current trend of celebrities investing in an Initial coin offering (ICO). This is in the line with other existing similar ventures such as Trump’s Official Trumpcoin (TRUMP) and Melania Trump’s Official Melaniacoin (MELANIA). The two tokens were earlier released in January 2024, and now, look at Errol Musk doing his thing.

MUSKIT Token’s Market Action

According to a recent report, Errol Musk’s plan is ambitious. He plans on raising $200 million through the MUSKIT token. The money will be used to establish the Musk Institute, a for-profit research organization that will be spearheaded by him. This strategy has a precedent with Donald Trump who also used initial public backing and his family name to develop commercial viable projects. Like Trump, Errol is using his son Elon to draw attention in the highly speculative category of memecoins.

The MUSKIT has entered the market and has shown some action. According to the CoinMarketcap data, its current price is $0.03439, which is 214% up from its price level of 24 hours before. Although the token has been launched in December 2024, it records trading volume of $82.24 million.

High-Risk, High-Reward Tokens

It was launched at the Solana based platform Pump.fun and has a circulating supply of one billion. It has attracted investors’ attention despite the early and short period of drastic fluctuations in the price of the token.

As seen with memecoins such as MUSKIT, they are typically more favorite during bear runs than bull runs in the crypto-market. This is because the retail investors always look for new investment ventures, including investing in illiquid assets. 

This is the beauty of the tokens like Musk It ; they come with big earnings to those who invest in them although they are associated with certain risks. These tokens may experience tremendous growth in their value, by the same token, they appeal to aggressive investors seeking short-term gains.

Errol Musk expands to the memecoin industry instead of celebrities who have also started to invest in them. Even though Elon Musk is not directly involved in his father’s project, the MUSKIT token will receive recognition from across the world, thanks to the Musk name. It is not surprising that number of gains from memecoins but it is also comes with risk like all memecoins. The latest venture has been keenly awaited by the investors to see whether it will bring the expected returns.

_^Disclaimer:

^{The information provided on this website is intended for general informational purposes only and does not constitute professional financial advice. Users should conduct their own research and consult with a licensed financial advisor before making any investment decisions. By using this site, you acknowledge and accept that you are solely responsible for your investment choices and any associated risks.}