Errol Musk Promotes ‘MUSK IT’ Memecoin to Raise $200 Million for Projects
Errol Musk is promoting a new memecoin, "MUSK IT," aiming to raise up to $200 million for the Musk Institute, a think tank focused on engineering projects. Key details include:
- Collaboration with Nathan Browne
- Plans to develop flying vehicles and other scientific initiatives
- Token launched in December by a Middle East-based crypto company
- MUSK IT has a $25 million market cap and $79 million in trading volume
- Price increased by 130% recently, from 1 cent to 20 cents, then stabilized around 2 cents
- 44,000 holders; top ten addresses control over 20% of total supply, worth over $7 million
- Details on tokenomics and operational structure remain unclear
- Partnership stipulates MUSK IT cannot be a pump and dump
The project aims to collaborate with UAE nobility, but specifics on timelines or project details are yet to be announced.