Elon Musk’s Father Plans $200M Raise with MUSKIT Meme Coin as Solaxy Nears $17M in Presale

Crypto buyers can’t get sufficient of celebrity-backed tokens.

Errol Musk, father of Elon, is the most recent to become involved on this pattern.

He plans to boost $200 million with the MUSKIT meme coin – and the coin’s worth has already reacted positively.

This information comes as the brand new meme venture Solaxy (SOLX) sees huge presale success, elevating virtually $17 million earlier than its official launch.

Errol Musk Plans $200M Increase for Suppose Tank Venture

Superstar-backed meme cash have been all over the place in early 2025, however nobody might have predicted Errol Musk would launch one.

He’s utilizing the household title for his new crypto enterprise – Musk It (MUSKIT).

Elon’s father plans to boost as much as $200 million by means of this coin.

The Musk It coin, initially launched by a Center Japanese crypto agency in December, will reportedly fund the Musk Institute.

This for-profit assume tank, headed by Errol and enterprise accomplice Nathan Browne, will give attention to tasks like flying autos and scientific analysis.

Errol Musk isn’t shy about utilizing the household title.

“I’ve been ‘Musking it’ for years,” he stated.

MUSKIT token jumped over 200% after his announcement final evening however has since plummeted – now hovering round $0.065.

Elon Musk himself isn’t concerned within the venture and has reportedly distanced himself from his father’s enterprise dealings.

Pink Flags Mount as Merchants Query MUSKIT Coin’s Construction

Musk It has already raised some critical pink flags amongst market analysts and merchants.

They’re anxious concerning the token’s construction and potential dangers.

The shortage of transparency round provide and possession is the most important concern.

Studies recommend Errol Musk’s new firm could management as much as 80% of the provision, main some to recommend {that a} rug pull is likely to be on the playing cards.

MUSKIT’s branding additionally raises eyebrows.

It makes use of imagery closely related to Elon’s firms, though he’s not concerned in any respect.

Many view this as deceptive and predatory.

Then there’s the idea of celebrity-backed meme cash generally, which regularly see massive preliminary good points, adopted by huge losses for individuals who purchase in after the highest.

MUSKIT’s worth has already rallied and dropped, so there’s concern it’s already “useless.”

One dealer on Twitter even urged it can “drop to zero” quickly.

Solely time will inform whether or not MUSKIT can overcome these challenges – or if it can turn out to be one more cautionary story for retail buyers.

Solaxy Continues Gaining Traction with $16M+ Presale Increase & A number of Analyst Endorsements

Whereas MUSKIT faces skepticism, one other venture is powering forward.

Solaxy is billed as Solana’s first Layer-2 scaling resolution and has raised over $16.6 million in presale thus far.

Early buyers are betting it could actually repair Solana’s congestion issues.

Solaxy will course of transactions off-chain utilizing rollup know-how, much like Ethereum’s Layer-2 options, earlier than settling them on the mainnet.

This may very well be large – particularly given the latest community pressure from meme coin buying and selling.

Trump-themed tokens, for instance, helped Pump.enjoyable not too long ago hit a record weekly trading volume.

Nevertheless, some customers nonetheless confronted sluggish transactions – and even failed transactions.

Solaxy’s Layer-2 can be powered by SOLX, its native token, which is accessible in presale.

SOLX is presently priced at $0.00162, though that worth will enhance in lower than 24 hours when the following stage begins.

Traders can get in utilizing crypto (e.g., ETH, SOL) or a financial institution card.

Crypto knowledgeable ClayBro thinks securing SOLX within the presale may very well be sensible, stating it is likely to be one of many “finest meme cash to purchase now.”

Fellow analyst Crypto Gains backed up his bullishness

So, whereas the MUSKIT coin’s future is unsure attributable to transparency considerations, Solaxy seems to be constructing one thing of actual worth.

Visit Solaxy Presale

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