Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: yhiaali3 on February 02, 2025, 12:43:58 PM
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Yes, the title is correct, after the Trump and Melania meme, it’s Elon Musk’s father’s turn to create his own meme, how cool, who’s next? ;)
https://www.newsweek.com/elon-musk-father-launches-meme-coin-cryptocurrency-2024191
Elon’s father, Errol, explained that the initiative reflects his long career in the field. Elon Musk was not involved in the project or supported it, but he inquired about it after the news broke. He confirmed that his father is moving forward with his plans independently.
Following the Fortune report, the MUSKIT coin saw a sharp rise in its market value, reaching $23 million, with a 1,500% jump on Thursday evening, as the coin’s price rose from $0.014 to $0.2, before falling to $0.03 at the moment.
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I dont believe that success awaits him with meme-coins. Meme-coins with Elon Musk name, his image have been launched years ago. One more ELON COIN (or whatever it will be called) will be unnoticed. And the hype seems to be over or about to end. Trump Coin has hypes, the rest can only be in shadow of his success. I think that people quickly will understand that this is pure try to jump in running train and wont be buying it.
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Hahahaaa human beings have no solution. And this is just one of the consequences of Trump being able to do whatever he wants without anyone calling him a manipulator, among many other things. This token looks great and will probably impoverish a lot of people. Personally, I am looking forward to the launch of Paris Hilton's dog token with advanced features :o
The worst of all this is that many people are going to buy and lose money, the best of all this is that the father of the richest man in the world is going to make a lot of money.
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It's another fascinating news, seeing the father of one of the most wealthiest man in the world trying to sort for a way of raising funds by launching a memecoin...
I just hope the project doesn't turn out to be a pump and dump, it'll really sound positive of him, if his project team can manage the token to even be amongst the top memecoins in the Crypto market.
I don't think I've seen the MUSKIT token on the CEX I'm using.. seems like the token is not yet listed on top CEX
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I dont believe that success awaits him with meme-coins. Meme-coins with Elon Musk name, his image have been launched years ago. One more ELON COIN (or whatever it will be called) will be unnoticed. And the hype seems to be over or about to end. Trump Coin has hypes, the rest can only be in shadow of his success. I think that people quickly will understand that this is pure try to jump in running train and wont be buying it.
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Until someone is still buying memecoins and just joining the memecoin pumps, the launching of memecoins will continue but once its over and so many have regretted investing in all these memecoins, even if its Barron Trump launching his memecoin people will not buy it anymore.
For now its still working. They could be testing the waters whether people still has money to waste in these memes. I wouldn't mind buying to profit on its pump as long as I got into the coin early but now that it dropped to $0.03. Just leave it to Errol.
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Everyone wants to launch a meme coin these days, and can you blame them, if the president and his wife can launch theirs, then why can't Elons father and every scammer out there do the same. It is funny that people still jump at things like this hoping they are going to make money, i am sorry if you are not among the very first investors who bought and dumped on others, you can't make money from shitcoins like this.
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I dont believe that success awaits him with meme-coins. Meme-coins with Elon Musk name, his image have been launched years ago. One more ELON COIN (or whatever it will be called) will be unnoticed. And the hype seems to be over or about to end. Trump Coin has hypes, the rest can only be in shadow of his success. I think that people quickly will understand that this is pure try to jump in running train and wont be buying it.
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Until someone is still buying memecoins and just joining the memecoin pumps, the launching of memecoins will continue but once its over and so many have regretted investing in all these memecoins, even if its Barron Trump launching his memecoin people will not buy it anymore.
For now its still working. They could be testing the waters whether people still has money to waste in these memes. I wouldn't mind buying to profit on its pump as long as I got into the coin early but now that it dropped to $0.03. Just leave it to Errol.
Yes, meme-coins will still get pumped, but not as heavily pumped as Elon Musks father expect. Like he wants his meme-coin to do x30, but it will make only x5 as its best. His name is already too popular and people have already used it. For example like someone launches new soft drink on the market, that already has huge variety. Famous and rich people already tried that, but no one cant beat Pepsi or Coca Cola, not even get close to its sales.
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Yes, meme-coins will still get pumped, but not as heavily pumped as Elon Musks father expect. Like he wants his meme-coin to do x30, but it will make only x5 as its best. His name is already too popular and people have already used it. For example like someone launches new soft drink on the market, that already has huge variety. Famous and rich people already tried that, but no one cant beat Pepsi or Coca Cola, not even get close to its sales.
I don't know how much money Musk's father could make, but even if it can't be compared to other coins/tokens or the expected amount is less, it will surely still be a lot of money. The first few hours after the initial pump are the most important, but when the days or weeks pass and the price has dropped a lot, he will continue to make money. That's without taking into account possible future promotions and new pumps thanks to his son Elon or any other famous person.
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anyone who is popular can now just launch their own memecoin. HwakTua girl released her own token before Trump and it wasn't very expected yet she did it.
i don't know Elons father is popular but most probably he is since he is surely rich. Melania Trump launched her memecoin along with Trump so yes anyone can just launch a coin and SEC couldn't do anything about it as long as its declared as memecoin.
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Hahahaaa human beings have no solution. And this is just one of the consequences of Trump being able to do whatever he wants without anyone calling him a manipulator, among many other things. This token looks great and will probably impoverish a lot of people. Personally, I am looking forward to the launch of Paris Hilton's dog token with advanced features :o
Yes this is a huge mess, the meme will definitely make a lot of people poorer while making a few richer, the meme went up 1500% which means that someone bought at the top and is now crying over the huge loss they suffered.
I agree with you about "Launching Paris Hilton's Dog token with Advanced Features" I expect it to be a great successful meme. ;)
I don't think I've seen the MUSKIT token on the CEX I'm using.. seems like the token is not yet listed on top CEX
Yes it is true the MUSKIT token is not listed on the big known exchanges only on some decentralized exchanges and despite that it achieved a very large trading volume in the early days, maybe it is lucky that it was not listed on the big exchanges otherwise a lot of people would have lost.
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This is another way for Elon Musk father to make his own money from crypto since crypto has become an easy way for someone to make money from crypto space through launching a memecoins.
I just like Elon Musk is not in support of this. So that anyone that lost his money won't have him to blame.
However, I wonder how investors in crypto space find it hard to learn from mistakes. Any newly launch memecoin by someone influential, they have a rush of investment in it, hoping for quick profits which many won't get but a loss of investment.
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Hahahaaa human beings have no solution. And this is just one of the consequences of Trump being able to do whatever he wants without anyone calling him a manipulator, among many other things. This token looks great and will probably impoverish a lot of people. Personally, I am looking forward to the launch of Paris Hilton's dog token with advanced features :o
The worst of all this is that many people are going to buy and lose money, the best of all this is that the father of the richest man in the world is going to make a lot of money.
So they got a pump from 0.014 to 0.20
almost 15x
it now dumped to 0.030 .
So since the launcher has first dibs he likely got 10 or 15 million out of the boost to 23 million.
not bad .
I would love to have 10 to 15 million in under a month or even less time.
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it’s funny that the article did not even use the father’s name (which is errol by the way) they just introduced him as elon musk’s father this is nepotism but in reverse lol i do not know how much successful he will be considering even trump’s coin dumped not a lot of people know him even if he is elon musk’s father
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I dont believe that success awaits him with meme-coins. Meme-coins with Elon Musk name, his image have been launched years ago. One more ELON COIN (or whatever it will be called) will be unnoticed. And the hype seems to be over or about to end. Trump Coin has hypes, the rest can only be in shadow of his success. I think that people quickly will understand that this is pure try to jump in running train and wont be buying it.
I don't think it is necessary to draw conclusion on whether "MustIT" may be followed or not, rather it requires a good marketing and promotional strategies, and the "MuskIT" meme coin will perform at the long run.
In addition, If Musk's father has a good community, experiences team, institutional investors, Regular traders, the project will definitely have massive demands in near future.
As we know, the meme space is currently very competitive, and every meme project needs some serious marketing and promotional approach to survival the current trends and compete favorably with the old memes coins like Dogecoin, Pepe etc.
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Well, here we go again. To be honest, I don't see how this one would be any different from the other pump and dumps we've been getting.
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it’s funny that the article did not even use the father’s name (which is errol by the way) they just introduced him as elon musk’s father this is nepotism but in reverse lol i do not know how much successful he will be considering even trump’s coin dumped not a lot of people know him even if he is elon musk’s father
Yes funny, but this is the way basically used to promote memes.
If it wasn't for Elon Musk's fame, who would have known his father? Even many didn't know that Elon Musk's father's name is "Errol" until now after this meme was released!!!
This is the kind of promotion used for this type of meme, of course it will achieve some success at first and then as usual it will quickly fade away.
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I am sure the man is just taking advantage of the Musk popularity to create some free money via the memecoin launch of $Muskit. This has the potential of reaching some millions in marketcap but will just slow down and just be forgotten just like the so many Elon-inspired memecoins we already have in the market. Now, this can be a good way to make some fast money if you were fortunate to be one of the first holders...just like what happened to the $Trump and $Melania coins...and since this is not endorsed by Elon Musk officially we could not expect some future price spikes as there is no chance Elon will even mention it on his X posts. How I wish am a cousin of Elon Musk so that I can also create and promote my own memecoin and I would call it as $Muskriches.
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I am sure the man is just taking advantage of the Musk popularity to create some free money via the memecoin launch of $Muskit. This has the potential of reaching some millions in marketcap but will just slow down and just be forgotten just like the so many Elon-inspired memecoins we already have in the market. Now, this can be a good way to make some fast money if you were fortunate to be one of the first holders...just like what happened to the $Trump and $Melania coins...and since this is not endorsed by Elon Musk officially we could not expect some future price spikes as there is no chance Elon will even mention it on his X posts. How I wish am a cousin of Elon Musk so that I can also create and promote my own memecoin and I would call it as $Muskriches.
$muskpluz sounds better.
my meme would be the $muskytrumpeter
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it’s funny that the article did not even use the father’s name (which is errol by the way) they just introduced him as elon musk’s father this is nepotism but in reverse lol i do not know how much successful he will be considering even trump’s coin dumped not a lot of people know him even if he is elon musk’s father
Indeed its funny and disappoiting simultaneously. They dont call him Errol Musk, but use Elon Musks father instead. And funny that he has more chances of success if he would be called as father, than Error Musk meme-coin :) Wasnt Melany meme-coin show that creating meme-coins under family connection wont do well? Combination of Elon Musk+meme is so hackneyed topic, that I dont believe it will succeed or make noise. People are so used to it, that might think that this is just another fake coin, if Error creates it.
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it’s funny that the article did not even use the father’s name (which is errol by the way) they just introduced him as elon musk’s father this is nepotism but in reverse lol i do not know how much successful he will be considering even trump’s coin dumped not a lot of people know him even if he is elon musk’s father
Indeed its funny and disappoiting simultaneously. They dont call him Errol Musk, but use Elon Musks father instead. And funny that he has more chances of success if he would be called as father, than Error Musk meme-coin :) Wasnt Melany meme-coin show that creating meme-coins under family connection wont do well? Combination of Elon Musk+meme is so hackneyed topic, that I dont believe it will succeed or make noise. People are so used to it, that might think that this is just another fake coin, if Error creates it.
he does not care he already sold off and made his money
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How much money can one family steal?
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Well, here we go again. To be honest, I don't see how this one would be any different from the other pump and dumps we've been getting.
It is surely no different, it is the same as most meme coins, they are shitcoins, no different from the one the president and his wife launched, designed to steal from people, nothing else. However, people will still buy it, they want to make fast money, but they end up losing money instead.
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It is surely no different, it is the same as most meme coins, they are shitcoins, no different from the one the president and his wife launched, designed to steal from people, nothing else. However, people will still buy it, they want to make fast money, but they end up losing money instead.
It certainly doesn't differ, the problem is that it doesn't stop. Every day we hear about the creation of dozens, maybe hundreds of memes without any value or project.
What bothers me about memes is not the pumping and dumping and causing losses to thousands of users, but what bothers me more is that these garbage memes steal liquidity from Bitcoin and the rest of the good coins in the market. All these billions that were supposed to be pumped into Bitcoin go to these memes and withdraw liquidity that could contribute to the rise of the market.
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It is surely no different, it is the same as most meme coins, they are shitcoins, no different from the one the president and his wife launched, designed to steal from people, nothing else. However, people will still buy it, they want to make fast money, but they end up losing money instead.
It certainly doesn't differ, the problem is that it doesn't stop. Every day we hear about the creation of dozens, maybe hundreds of memes without any value or project.
What bothers me about memes is not the pumping and dumping and causing losses to thousands of users, but what bothers me more is that these garbage memes steal liquidity from Bitcoin and the rest of the good coins in the market. All these billions that were supposed to be pumped into Bitcoin go to these memes and withdraw liquidity that could contribute to the rise of the market.
just another way to attack btc.
you have to hodl hodl hodl.
looks like another run against btc price is developing and believe it or not joe biden is still the king of btc as the ath
was under his watch.
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Well, here we go again. To be honest, I don't see how this one would be any different from the other pump and dumps we've been getting.
It's the same but this has a better start because of another person's popularity. Since we've wished for mainstream adoption of crypto, this is also something to be expected. Anyone that will trend will probably have their own meme token the next day/weeks/months like that 'hawk tuah' lady.
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just another way to attack btc.
you have to hodl hodl hodl.
looks like another run against btc price is developing and believe it or not joe biden is still the king of btc as the athwas under his watch.
Yes I see it too, allowing all these garbage memes is an indirect way to attack Bitcoin.
Also for Biden I can agree with you that the strict policy that the SEC was following under Biden led to strengthening Bitcoin and weakening or eliminating all other shitcoins, the new Trump administration should be stricter in this regard otherwise it will lead to chaos and loss of investors' money and it will give a bad reputation to crypto.
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It's the same but this has a better start because of another person's popularity. Since we've wished for mainstream adoption of crypto, this is also something to be expected. Anyone that will trend will probably have their own meme token the next day/weeks/months like that 'hawk tuah' lady.
Memecoins have captured celebrities and exploded to attract investor attention and funds over the past period. After the TRUMP & MELANIA craze, anything is possible: celebrities can issue memecoins based on themselves to achieve political and economic goals.
I don't care much about memecoins so I just consider this event as entertainment in the crypto market to attract more retail investors and relieve stress for investors. I won't buy any memecoins in this group, if I want to try my luck with memecoins, I'd rather buy DOGE or PEPE ^^
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So they got a pump from 0.014 to 0.20
almost 15x
it now dumped to 0.030 .
So since the launcher has first dibs he likely got 10 or 15 million out of the boost to 23 million.
not bad .
I would love to have 10 to 15 million in under a month or even less time.
10 or 15 million dollars? Like any of us on a boring afternoon :o It shouldn't surprise us too much, I say this because any day Musk's siblings (I don't know if he has brothers or sisters) could also launch their own memecoin, or his children, I already believe it all. What is clear is that every time a "celebrity" does something, people buy and buy non-stop. And that's something that only diverts people's attention from the few coins/tokens that are actually worth it in this industry.
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All these billions that were supposed to be pumped into Bitcoin go to these memes and withdraw liquidity that could contribute to the rise of the market.
True, but we have to accept it, we have to accept that people want to try and get quick money, no matter how many times they get scammed and lose money. Meme coins are simply shitcoins and even those who buy it know that, but they cannot just resist the urge to 'gamble'.
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Obviously, his father wants to bank and monetize his popularity because they have seen how a meme-related token can make a lot of money. Investors never get enough of memes because a few investors are making a fortune investing in memes.
Only if they embrace of the risk of investing in meme like what this article posted
However, experts warn that meme coins—volatile digital assets lacking inherent utility and inspired by internet trends—create ripe conditions for "pump and dump" or "rug pull" schemes, in which small groups of investors artificially inflate value through community hype, only to cash out and leave most holders at a loss.
Many investors prefer to take the risks in the hope of making money instead of ignoring these memes.
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Many investors prefer to take the risks in the hope of making money instead of ignoring these memes.
I 100% agree with you, and that is why there would never be a dearth of people willing to create these meme shitcoins. Since there would surely be investors that are ready to take the risk with meme coins, then why wouldn't creators make it and make money from them, as simple as that.
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All these billions that were supposed to be pumped into Bitcoin go to these memes and withdraw liquidity that could contribute to the rise of the market.
True, but we have to accept it, we have to accept that people want to try and get quick money, no matter how many times they get scammed and lose money. Meme coins are simply shitcoins and even those who buy it know that, but they cannot just resist the urge to 'gamble'.
Yes the correct analogy is that it is gambling, meme coins are actually gambling coins that is the best description of it, people love quick easy money so they love gambling.
Anyway, no one can do anything if people want to lose their money, it would be good if there were regulations to control these things so that no one can make their own meme and put it on the market for trading.
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Nothing to see here folks, just another pump and dump scheme.
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Following the Fortune report, the MUSKIT coin saw a sharp rise in its market value, reaching $23 million, with a 1,500% jump on Thursday evening, as the coin’s price rose from $0.014 to $0.2, before falling to $0.03 at the moment.
Elon Musk has a father that's a news to me and you are saying he launched his own meme coin too :o maybe next Elon will have a meme for his late late grandfather then in the name of his ex he will have a meme coin then in the name of all those failures he had in spacex project he will have meme coins for each failure etc.
This is not good because once the market starts to be moving around few people's move then the chance for manipulation are high therefore we should take part carefully in these meme coins they can make us lose too.
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Lol another money scheme riding on the success of the "Musk" name.
Has anybody brought this to the attention of Musk junior especially that his now in the public eye and what he thinks about this.
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Has anybody brought this to the attention of Musk junior especially that his now in the public eye and what he thinks about this.
Lol, it does not even matter, people do not care and would not care what he thinks about this, people who are gullible enough to attempt to make money from this will still buy it irrespective of what anybody says. Who do you guys think is next to launch a meme coin, i am talking about popular people, lol.
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We do not need more of these meme coins but these people sees that they are in a situation to take advantage of everyone who's hyped in the market. I'm not surprised, there are people even willing to bet on a hawk tuah meme coin but themselves should be the one to be blamed for their own losses. Riding this meme coin craze is mostly losing people's money.
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Many investors prefer to take the risks in the hope of making money instead of ignoring these memes.
I 100% agree with you, and that is why there would never be a dearth of people willing to create these meme shitcoins. Since there would surely be investors that are ready to take the risk with meme coins, then why wouldn't creators make it and make money from them, as simple as that.
So and so we can also say to them is, "goodluck".
But for those who are way smarter, I don't think that we will go and invest on this another meme coin.
It's obvious that this is going to be used for pump and dump scheme and so the entities behind are the one who are going to make a lot of money from it and those noobs investors gonna lose big. Just like what happen to $Trump.
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Following the Fortune report, the MUSKIT coin saw a sharp rise in its market value, reaching $23 million, with a 1,500% jump on Thursday evening, as the coin’s price rose from $0.014 to $0.2, before falling to $0.03 at the moment.
Guess what Elon's father made good money by not using Elon's account as he wants to make money independently, but if he would have asked him to share one tweet the result would be better but still this shows even the father of a billionaire care to show the world that he does not eat his son's money he earn on his own and spend it.
TBH I don't know much about his father but this message was clear to me haha. I am not interested in any meme coins and I want this hype to be vanished because maybe then market will show some pumps again.
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TBH I don't know much about his father but this message was clear to me haha. I am not interested in any meme coins and I want this hype to be vanished because maybe then market will show some pumps again.
Unfortunately, it's all about money, other memes have already appeared of famous people including the President of Argentina and the President of the African Republic, the market has turned into complete nonsense.
All these memes including the Trump and Melania memes were dumped and caused millions of dollars in losses for thousands of people, while the Argentine President Libra meme has turned into a political scandal.
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Yes, the title is correct, after the Trump and Melania meme, it’s Elon Musk’s father’s turn to create his own meme, how cool, who’s next? ;)
https://www.newsweek.com/elon-musk-father-launches-meme-coin-cryptocurrency-2024191
Elon’s father, Errol, explained that the initiative reflects his long career in the field. Elon Musk was not involved in the project or supported it, but he inquired about it after the news broke. He confirmed that his father is moving forward with his plans independently.
Following the Fortune report, the MUSKIT coin saw a sharp rise in its market value, reaching $23 million, with a 1,500% jump on Thursday evening, as the coin’s price rose from $0.014 to $0.2, before falling to $0.03 at the moment.
Pump and dump, this is what memecoins are all about, if you get in earlier, you're lucky and partly safe, if you're missed the first time launch opportunity, you are on your own risk, you may just enter when the market is going dip, now people will be using the celebrities and renowned citizens to make hypes and create investors to pump and suddenly dumps as well, best of luck on everyone going for this.
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A lot of jokes for fun with cryptocurrency are developed by dogecoin which is considered as the first crypto meme coin today. However, the types and structures of all projects will not be the same and in the future so more coins will come in which different famous people will be made as owners. But the best of all this is the father of the world wealthy people is about to make a lot of money.
If you buy virtual currency then invest in that if you take lose, you do not have much harm. You should not invest in cryptocurrency in your lifetime income money.
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Unfortunately, it's all about money, other memes have already appeared of famous people including the President of Argentina and the President of the African Republic, the market has turned into complete nonsense.
All these memes including the Trump and Melania memes were dumped and caused millions of dollars in losses for thousands of people, while the Argentine President Libra meme has turned into a political scandal.
You are right people lost huge money in meme coins and the hype is just getting started I also have the same idea that the trend of creation of memecoins from big celebrities, polical leaders and singers is just getting started and with time they all will release their coins and until investors will abondon them the bull run will take more time and altcoin holders have to wait more and the bull run is already being extended IMO.
I did not traded in any of these memecoins even I was not aware of the scandle of Libra until I saw it here. But even I participated or not it eat away a huge money of people and alts bleed more so I still got effected by them.
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Following the Fortune report, the MUSKIT coin saw a sharp rise in its market value, reaching $23 million, with a 1,500% jump on Thursday evening, as the coin’s price rose from $0.014 to $0.2, before falling to $0.03 at the moment.
A typical meme coin movement yet again. :D
New meme coin being created by these people - price will pump within hours or minutes after being posted online - will be dumped after a few minutes - will be abandoned here after or at least the community will just abandon it and will not support anymore.
I wonder if these creators really are the one that's behind these pump and dump schemes. I mean they can have an share of the total allocation of the token they created, but what I believe is that, there are some whales out there that will buy that meme coin then will be dumped on everyone's faces. Whatever the case is, in the end it will be the average investors that will come out losing money. Until when will the investors stop investing into these new meme coins? Until when will these investors stop finding for a coin that could give them x10 or x100 in a short amount of time?
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Yes, the title is correct, after the Trump and Melania meme, it’s Elon Musk’s father’s turn to create his own meme, how cool, who’s next? ;)
Elon’s father, Errol, explained that the initiative reflects his long career in the field. Elon Musk was not involved in the project or supported it, but he inquired about it after the news broke. He confirmed that his father is moving forward with his plans independently.
There are many people who are creating their own ment coins daily and it is not getting enough high because they are not tied to any popular individual. The only difference about this meme coin is that it is tied to and related to a popular individual. If your focus is on bitcoins and the popular altcoins already, this should not distract you.