Memecoins continue to be a popular trend, and a new initiative comes from Errol Musk, father of Elon Musk, with a cryptocurrency project called 'Musk It'.
Errol Musk: A New Player in Cryptocurrency
Errol Musk, an entrepreneur and father of Elon Musk, decided to use his name to create a memecoin, aiming to raise between 150 and 200 million dollars. The funds are supposed to aid the 'Musk Institute'. Notably, the token idea emerged before the actual project's vision.
Uncertainty around 'Musk It' Project
Despite Errol Musk's involvement, 'Musk It' is not entirely his original initiative, as this memecoin existed previously. The absence of a roadmap and clear token distribution raises questions. CoinMarketCap shows a market cap of 11 million dollars, but this is self-reported.
Relationship between Errol and Elon Musk
Elon Musk officially has nothing to do with the 'Musk It' project and has emphasized his dissatisfaction with using his name in dubious projects. The communication between father and son remains difficult, adding more controversy. Elon Musk has chosen Dogecoin as his favorite in the crypto world, clearly indicating his preferences.
Errol Musk, despite the controversies, brings 'Musk It' to the cryptocurrency world. Yet, the project is shrouded in uncertainty, and its success remains questionable.
