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Elon Musk\u2019s father aims to generate up to $200 million through a newly launched meme coin. According to Errol Musk, the plan is to raise a minimum of $150 million through the \u201cMusk It\u201d meme coin to fund a for-profit think tank called the Musk Institute. The research institute will focus on scientific developments, including projects like flying vehicles.<\/span><\/p>\n MUSKIT is another meme coin enjoying popularity like the recently launched $TRUMP and $MELANIA tokens introduced by the US President and First Lady. Both tokens gained popularity very shortly after their launches a few days apart, but have since lost most of their steam. Nonetheless, there are several <\/span>new meme coins worth investing<\/span><\/a> in that offer holders exciting features including access to layer-2 protocols to improve scalability, high returns for staking, and functionality in the gaming industry with play-to-earn (P2E) competitions for additional rewards.<\/span><\/p>\n In a recent interview with Fortune from his Cape Town home, Errol \u2013 who has <\/span>an estimated net worth of $5 million<\/span><\/a> \u2013 explained that he would execute his plans along with Nathan Browne, his business partner. Although they plan to raise money via the meme coin, Errol explains that he and Browne did not design the coin. They only approved the name and decided to work together on the token after it was launched in December by a cryptocurrency company based in the Middle East.<\/span><\/p>\n On the meme coin and the inspiration, Errol said:<\/span><\/p>\n \u201cI\u2019m the head of the family. It really started with me in our family \u2013 I\u2019ve been \u2018Musking It\u2019 for years.\u201d\u00a0<\/span><\/p>\n According to CoinGecko data, Musk It (MUSKIT) is currently trading at $0.0264, up more than 100% over the last 7 days but down over 30% in the last month. In addition, MUSKIT is at least 66% lower than its all-time high (ATH) of $0.07278 from January 31, 2025. At the moment, there is not much direction for the future of MUSKIT, or whether or not Errol and Nathan will successfully hit their desired target. Nonetheless, it is noteworthy that the token struggled when it initially launched and only began recording real movement after Errol\u2019s announcement.\u00a0<\/span><\/p>\n The meme coin space has been buzzing recently, especially with the release of <\/span>tokens from the Trump family<\/span><\/a>. However, this is not enough to expect Elon\u2019s interest or contribution. Errol reportedly has an estranged relationship with his sons Elon and Kimbal. While Elon once described Errol as \u201csuch a terrible human being,\u201d Elon\u2019s mother, Maye, has also alleged abuse.<\/span><\/p>\n Although some reports suggest the father and son have discussed the project, many wonder what the effect of Errol\u2019s involvement in the token would be since the asset shares the family name. However, in response to the idea that investors will connect the meme coin to Elon, despite his distance from the project, Errol simply asked:<\/span><\/p>\n \u201cAnybody that follows after [Elon] is not allowed to be successful because Elon is successful?\u201d<\/span><\/p>\n Browne also noted that Elon\u2019s endorsement or contribution is unnecessary, and anyone who thinks otherwise is \u201cmissing the point.\u201d<\/span><\/p>\nMUSKIT and the Meme Coin Market<\/strong><\/h2>\n
MUSKIT and Whether Elon Will Join<\/strong><\/h2>\n