Musk It skyrockets 400% to a $58M market cap

Meme coin
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As of January 31, 2025, Musk It’s total market capitalization surged to $58 million, marking a staggering increase of over 400%. This unexpected boost was driven by Errol Musk—the father of billionaire Elon Musk—publicly endorsing the project.

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Errol Musk revealed that he and a business partner are working on an ambitious plan. Specifically, they aim to raise $150-200 million for Musk It to establish and support the Musk Institute—a nonprofit research organization focused on clean energy, artificial intelligence, and space exploration.

However, his endorsement has sparked skepticism. Is this truly a move driven by scientific and technological aspirations, or is he leveraging his son’s fame to cash in on the memecoin frenzy—much like the Trump family has done recently?

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Brilliant vision or just riding Elon’s fame for quick gains?

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Musk It was developed by a cryptocurrency company based in the Middle East and distributed through the Pump.fun platform. At launch, it reached a market capitalization of around $50 million but later dropped sharply to $10 million.

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