First Trump, Now Elon Musk’s Family? Errol Musk’s “Musk It” Memecoin Aims for $200M!

Share This Post

First Trump, Now Elon Musk’s Family? Errol Musk’s “Musk It” Memecoin Aims for $200M!

The post First Trump, Now Elon Musk’s Family? Errol Musk’s “Musk It” Memecoin Aims for $200M! appeared first on Coinpedia Fintech News

Under Trump’s leadership memecoins are seen as a serious investment option by traders and many big influencers. The latest entry into the scene is Errol Musk, father of Tesla CEO Elon Musk, who is diving into the crypto scene with its token, “Musk It”.

Following in the footsteps of Donald Trump and his family, who have capitalized on meme-driven cryptocurrencies, Errol hopes to raise between $150 million and $200 million through the project. Despite having no direct involvement in its creation, he has publicly endorsed the token, which was launched by a Middle Eastern crypto company in December.

Monetizing the Musk Name

Speaking to Fortune, Errol Musk made it clear that he has no issue using his surname to fuel the project. The token was initially launched in December by a Middle Eastern-based crypto company but gained little traction.

Looking at the cold market reaction, Errol and his business partner, Nathan Browne, later decided to publicly endorse it, emphasizing that their involvement isn’t a “pump and dump” scheme. While Errol claims to have recently spoken with Elon about the project, representatives for Elon and his brother Kimbal have remained silent, and neither is involved in the venture.

Another Meme on the Block- Will it Cause Disruption? 

Errol Musk launching “Musk It” might make his already troubled relationship with Elon even worse. With so many tokens popping up under famous names, there’s growing concern that these could shake up the crypto market, especially for well-established projects.

Memecoins, which have no real use or regulations, are risky and often lead to losses. Recently, Trump-themed coins caused a massive pump-and-dump, leaving investors in doubt, especially after Trump denied any involvement.

Since there’s little information about “Musk It,” its financial structure and long-term goals are unclear. Many investors assume it’s linked to Elon Musk, but Errol denies using his son’s name for profit, saying success isn’t limited to Elon alone. 

Now, a proposed class-action lawsuit claims that all tokens on Pump.fun are “unregistered security memecoins,” raking in nearly $500 million for the platform. This highlights the growing fear that such speculative tokens, often tied to famous names, could disrupt the market and create uncertainty for established projects like DOGE and PEPE.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto Markets Stumble in Lockstep With Wall Street as $2.7T Ecosystem Shudders

Bitcoin and global cryptocurrency markets retreated in tandem with US equity benchmarks on Tuesday, as bearish sentiment gripped financial markets The digital asset ecosystem contracted by 189% over

Internet Computer Price Prediction 2025, 2026 – 2030: Will ICP Price Hit $20?

The post Internet Computer Price Prediction 2025, 2026 – 2030: Will ICP Price Hit $20 appeared first on Coinpedia Fintech News Story Highlights The live price of the ICP crypto is Internet

BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets

BNB has once again demonstrated its resilience and strength by breaking through the crucial $605 resistance level This milestone, achieved after weeks of testing and consolidation, has sparked

Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1?

The post Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1 appeared first on Coinpedia Fintech News Story Highlights The price of Dogecoin today is Dogecoin price may reach a

Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2?

The post Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2 appeared first on Coinpedia Fintech News Story Highlights The live price of the Cardano token is ADA coin price could

Dubai offers tokenization sandbox to boost digital finance leadership

The Dubai Financial Services Authority (DFSA) has invited firms to express interest in joining its Tokenization Regulatory Sandbox before April 24, 2025 In a March 17 announcement, the DFSA—an