26 Apr 2025

light mode

Meme Coins & Musk Family Dramas — The “Musk It” Spectacle

Watercolor-style illustration of a megaphone with the words 'Breaking News' displayed on a red splash against a blue and white abstract background.

Who needs financial security when your son is one of the world’s richest men? Well, if you’re Errol Musk, you might still want a slice of the action. His latest move? Turning the Musk name into a meme coin.

On this page

The father of Tesla’s mastermind has led a life worthy of the silver screen. His latest act? Turning his son’s last name into a money-making machine. Enter “Musk It”—a cryptocurrency that, at first glance, seems less about blockchain innovation and more about a father-son reckoning with a $200 million price tag.

Errol and Elon Musk - The Coinomist
Errol and Elon Musk. Source: harpersbazaar

Meme Coins — Where Everything’s Allowed—Until It Isn’t

Crypto has become the Wild West of finance, and meme coins are its outlaw currency. These digital jokes sometimes evolve into serious money-making machines—just ask Dogecoin, still kicking since 2013.

These days, if you’re even mildly famous, you’ve probably got a token—Trump’s got one, Tate’s got one, even “Hawk Tuah girl” is in the game. But the biggest shocker? Elon Musk, the part-time crypto hype man, hasn’t minted his own meme coin—yet.

The Musk dynasty is expanding in unexpected ways. While Elon Musk chases the future with self-driving cars, Mars colonies, and an all-purpose super app, his father has opted for a simpler innovation—cashing in on the family name.

“I am the head of the family,” Errol Musk boldly announced, unveiling Musk It as his personal mark on technological evolution.

After all, who needs a multi-billion-dollar car empire when you can just spawn wealth from the blockchain?

What Do We Know About “Musk It”?

If meme coins had a grocery store aisle, MUSKIT would be the flashy cake in the clearance section—unexpectedly tempting, but still a gamble. Launched in late December by an unknown Middle Eastern crypto company, the token took off for one reason only: the Musk name.

Errol Musk and his shadowy partner, Nathan Brown, didn’t create it—but when they realized they could cash in on the surname, they didn’t hesitate to get on board.

“This is not a pump and dump,” Brown declares. Of course, to investors who’ve watched countless tokens implode, those words may sound like déjà vu.

But Errol Musk remains firm—”Musk It” isn’t just a trading gimmick, it’s the funding pillar of his grand Musk Institute, which is set to tackle critical global issues. What kind of issues? No one knows yet. But the name? Undeniably prestigious.

Looks like the cash grab phase is going strong. MUSKIT went up, then down, then way down—but don’t worry, this isn’t a pump and dump. Just a totally organic case of “the market doing its thing.”

MUSKIT Meme Coin Price Chart - The Coinomist
MUSKIT Meme Coin Price Chart. Source: coinmarketcap

Elon Musk, Family Drama, and the Meme Coin Question

So, what does Elon Musk think about his father’s meme coin ambitions? No official comment, but let’s be real—it’s unlikely he’s rushing to endorse it.

Their relationship, as Walter Isaacson’s biography suggests, is more explosive than a failed SpaceX launch. Mix in ugly divorces, strained ties with his sons, and an eyebrow-raising stepdaughter situation, and you’ve got a family history messier than a Dogecoin chart. No wonder the Musk dynasty prefers to keep certain stories far from the public eye.

Errol Musk claims he personally assured his son that “Musk It” has nothing to do with him.

Try telling that to crypto traders. The Musk name alone is enough to send markets soaring or crashing, making it prime bait for speculation. Whether Elon likes it or not, his brand moves billions—and his father wasn’t about to let that slip through his fingers.

Meme coins thrive on chaos, speculation, and the occasional jackpot win. But “Musk It”? It’s more of a soap opera with a blockchain twist.

Will it skyrocket like Dogecoin? (Spoiler: Unlikely.) Or will it disappear into the graveyard of forgotten tokens? The market will decide. But one thing is clear—crypto is the ultimate playground for turning hype into cash. And if it crashes? Just brush it off as another meme experiment.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
North Korean Lazarus Group Exploits Online Interviews

North Korean Lazarus Group Exploits Online Interviews

The North Korean Lazarus group leverages fake tech job listings to extract cryptocurrency wallets.

Anton Kryshtal
Justin Sun Tops the List of Biggest TRUMP Holders!

Justin Sun Tops the List of Biggest TRUMP Holders!

Tron founder Justin Sun has reportedly topped the list of TRUMP token holders. The top 220 investors are eligible for a dinner with U.S. President Donald Trump.

Dmytro Psevdonimenko
Polkadot ETF Stuck in Regulatory Limbo as SEC Delays Decision

Polkadot ETF Stuck in Regulatory Limbo as SEC Delays Decision

The SEC has pushed back its decision on Grayscale’s Polkadot ETF to June 11. The proposal joins roughly 70 crypto ETF filings, including Solana, XRP, and Dogecoin.

Vlad Vovk
HNT Token Jumps Over 17% After Helium and AT&T Announce Partnership

HNT Token Jumps Over 17% After Helium and AT&T Announce Partnership

News of a partnership between telecom giant AT&T and decentralized network Helium has sparked a rally in Helium’s native token, HNT.

Dmytro Psevdonimenko
Crypto Talk on X Today: RTFKT Issues, PolytSwap Launch & More

Crypto Talk on X Today: RTFKT Issues, PolytSwap Launch & More

Recently, images from RTFKT’s CloneX NFT collection stopped showing on platforms. They’re back now, and Head of Tech Samuel Cardillo explained what went wrong.

Anahit Avetisyan
Hot Crypto Talk on X Today: Scott Melker’s Identity Faked, & More

Hot Crypto Talk on X Today: Scott Melker’s Identity Faked, & More

Crypto was hit with a new influencer scam today – Scott Melker, also known as The Wolf of All Streets, revealed that scammers deepfaked his identity and stole $4 million from a victim.

Anahit Avetisyan
From the Federal Reserve to the Front-Runner: Who Is Kevin Warsh, Trump’s Likely Pick?

From the Federal Reserve to the Front-Runner: Who Is Kevin Warsh, Trump’s Likely Pick?

Trump wants Powell out—and Kevin Warsh may be next in line. Could he reshape the Fed under a second Trump presidency?

Elina Moskovchuk
Kaia: What Happens When LINE and Kakao Merge into One Blockchain

Kaia: What Happens When LINE and Kakao Merge into One Blockchain

In just half a year, Kaia has quietly racked up 20 million transactions and drawn in over 400,000 active wallets. Built directly into Asia’s most ubiquitous messaging apps, its reach now extends to nearly 300 million users—a bold blueprint for Web3 adoption.

Vlad Vovk
What Is the Next Bitcoin-Like Investment? Key Factors to Consider

What Is the Next Bitcoin-Like Investment? Key Factors to Consider

Explore the critical factors in evaluating the next breakthrough digital asset. Learn how innovation, decentralization, security, and market trends can help spot a Bitcoin-like opportunity.

The Coinomist
What Is Open Interest in Options? Factors to Consider

What Is Open Interest in Options? Factors to Consider

A comprehensive guide on open interest in options trading, explaining its significance, how it differs from volume, and the key factors to consider when using it for strategy.

The Coinomist
ICO Meaning and Its Role in Blockchain Technology

ICO Meaning and Its Role in Blockchain Technology

ICOs let blockchain projects raise capital by selling tokens. Here’s how they work, their benefits, and the risks investors should be aware of.

The Coinomist
Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto whales can move markets with a single trade. Learn how their actions affect prices—and how to adjust your investment strategy accordingly.

The Coinomist
What Are Covered Calls? Benefits and Risks

What Are Covered Calls? Benefits and Risks

Covered calls let investors earn income from stocks they already own. Learn how the strategy works, when to use it, and what risks to watch out for.

The Coinomist
Bitcoin Trades Sideways at $92K–$95K: Short Squeeze Unfolds Amid ETF Inflows

Bitcoin Trades Sideways at $92K–$95K: Short Squeeze Unfolds Amid ETF Inflows

Between $92,000 and $95,000, Bitcoin finds stillness. Traders retreat, ETFs awaken, and the market holds its breath—awaiting a spark to reignite the chart.

Anton Kryshtal
Bitcoin Retreats Slightly From $95K as Traders Lock In Gains

Bitcoin Retreats Slightly From $95K as Traders Lock In Gains

Despite a modest price correction, Bitcoin’s market share is expanding, with institutional investors continuing to pour capital into BTC ETFs.

Anton Kryshtal
MORE
Why Crypto Enthusiasts Should Visit Panama

Why Crypto Enthusiasts Should Visit Panama

Panama City is an underappreciated hub for crypto innovation in Central America. Find out what makes the city appealing to blockchain enthusiasts, where to spend crypto, and what to expect from a trip.

Iaroslava Kramarenko
Crypto Tattoos: When Digital Identity Becomes Part of the Body

Crypto Tattoos: When Digital Identity Becomes Part of the Body

Crypto tattoos are emerging as the latest expression of digital culture. From Bitcoin symbols to QR codes and NFT artwork, believers in decentralization are now wearing their convictions on their skin.

Iaroslava Kramarenko
MORE