Memecoins again captured the attention of the encryption world, but this time Illon Musk is not the headlines of the newspaper – he is his father, Airul Musk.
The 77 -year -old supported “Musk It”, a coded currency based on M. aimed at collecting between $ 150 million and 200 million dollars.
The distinctive symbol was launched in December by Chefir Company in the Middle East, and has since gained strength towards the public support.
The project joins the growing trend in the cryptocurrency -related currencies, a movement that has already seen numbers like former US President Donald Trump attracting the investor’s attention.
Unlike the assets in place like Bitcoin or Ethereum, these symbols often lack a clear benefit and expose severe fluctuations.
With the organizers tightening their grip on speculative encryption projects, the long -term sustainability of “Musk IT” remains unconfirmed.
source: Coinmarketcap
Market risk and family tensions
The Elon Musk effect on the encryption space cannot be denied, as its tweets move the price of Dogoin (DOGE) and other digital assets.
Neither he nor his brother, Kimbal Musk, is involved in “musk”.
While Errol Musk claims that he spoke with Elon about the project, no official comment was made by the CEO of Tesla or his representatives.
This development raises questions about how family dynamics affects the credibility of the distinctive symbol.
Often with investors who speculate based on celebrity participation, any deportation imagined by Elon Musk can affect the market confidence in “Musk IT”.
The fluctuations in the metal coins have already been shown with the Trump title, which rose before it was disrupted when the former president distanced himself.
Another concern is the legal scene.
Mel coins are often unorganized, which leaves investors subject to possible losses with little asylum.
Many of these symbols have also been linked to pump and discharge plans, as the first supporters increase the price before selling their property.
Erol Musk and his commercial partner, Nathan Brown, rejected such allegations, and they insisted that their participation is legitimate and not part of a short -term speculative play.
The lawsuit “musk it” and pump.fun target symbols
The legal challenge can complicate the future of “musk”.
A proposed lawsuit is filed against pump.fun, the platform in which the “Musk IT” and other distinctive symbols are traded.
The lawsuit claims that all symbols on the platform are “unregistered securities”, and raising the regulatory red flags of investors.
With approximately $ 500 million collected via multiple projects, the case highlights wider concerns about the risks associated with the speculative Metal currencies.
Current currencies such as Dogeco (Doge) and Pepe can face indirect consequences on the market if the organizational audit capacitors.
Celebrity -backed symbols reflect an increasing direction of prominent characters who benefit from their impact on the encryption space.
It is also evident from previous coins, its value often depends on general perception rather than the basic basics.
With the escalation of legal uncertainty and the lack of direct involvement from Elon Musk, the long -term “Musk IT” horizons remain very unexpected.
The post -aid coin is funded by musk
