MUSKIT Surges Dramatically: Errol Musk's Memecoin Hits $500M

user avatar

by Giorgi Kostiuk

2 years ago

The Musk It (MUSKIT) meme token, launched by Elon Musk's father Errol Musk, surged dramatically, reaching a market cap of $500 million in just minutes.

Sudden Surge of MUSKIT

On January 30, the token's price jumped from $0.014 to $0.48, skyrocketing over 3,500% in minutes. However, the price spike did not last long and soon decreased.

Project Goals and Errol Musk's Involvement

MUSKIT was launched in December 2024 with the aim to raise over $200 million for a new for-profit think tank called the Musk Institute. The project is backed by Errol Musk, but Elon Musk has not stated any involvement with the token.

Current Market Situation

According to Coinmarketcap, MUSKIT is currently trading at $0.035, still up 222% in the past 24 hours. Its market cap is around $35 million. Despite no comments from Elon Musk, his father claims the token will be used to fund a think tank focused on engineering projects.

Despite the volatility in price and uncertainty regarding Elon Musk's participation, MUSKIT token continues to draw interest. Its future impact on the cryptocurrency market remains to be seen.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

MEXC's Tokenized Stocks and ETFs Experience 30% Growth

chest

MEXC reported a 30% month-on-month increase in spot trading volume for tokenized stocks and ETFs, reflecting broad-based growth.

user avatarKofi Adjeman

MEXC Reports Significant Growth in August Trading Data

chest

MEXC reports significant growth in trading volumes across various asset classes in August 2026, with a 130% month-on-month increase in stock, index, and ETF Futures.

user avatarTando Nkube

TRON DAO Enhances MetaMask Connectivity for Users

chest

TRON DAO announces enhanced MetaMask connectivity for various dApps, improving user interaction within the TRON ecosystem.

user avatarNguyen Van Long

MetaMask Connectivity Now Supported by Leading TRON dApps

chest

Four major decentralized applications in the TRON ecosystem have integrated MetaMask connectivity, enhancing user access to on-chain finance.

user avatarSatoshi Nakamura

AI Researchers Reduce Quantum Attack Resource Benchmark by 86 Times

chest

Researchers have reduced the computing resources needed for a potential quantum attack on Bitcoin and Ethereum by 86 times.

user avatarJesper Sørensen

Regulators Urge Faster Cybersecurity Measures in Banking Sector

chest

Regulatory bodies are urging banks to adopt quicker patching and incident response strategies to combat evolving cyber threats.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.