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It seems that Elon Musk's father has entered the world of meme coins. He apparently supports a new project called "Musk It." The goal is to raise funds for the Musk Institute, aiming to gather between $150 million and $200 million.
This meme coin was hardly talked about when it launched last December, but it surged suddenly with Elon Musk's support. Its current market capitalization has reached $65.48 million.
What's interesting is that Elon Musk himself hasn't said anything about his father's move yet. If Tesla's CEO were to support it, it would definitely give a big boost, but since their relationship isn't very good, that support might not come. The meme coin market is truly unpredictable.