$MuskIt Soars to $500M Market Cap with Errol Musk’s Endorsement and Buyback Plan

$MuskIt has surged to a $500 million market cap, solidifying its position as one of the fastest-growing memecoins. With over 52,038 holders, the token recently gained traction after receiving an official endorsement from Errol Musk in Fortune, triggering a 3,500% price spike. Additionally, support from the Tesla Owners Silicon Valley account on X has further fueled its rise.

To strengthen its ecosystem, the Musk Institute has announced a major buyback plan, committing to repurchasing 100 million $MuskIt tokens. This initiative aims to enhance long-term stability and drive real-world adoption. Buybacks will be tied to key milestones, including community engagement (triggered by organic posts on X), ecosystem expansion through new partnerships, and market performance, with a 5 million $MuskIt buyback upon reaching a new all-time high.

The tokens will support the development of the Musk Institute and Musk Tower. The Musk Institute will serve as a hub for research, innovation, and blockchain integration, focusing on transformative science, academic collaboration, and venture incubation. The Musk Tower, a flagship infrastructure project, will be a center for events, business ventures, and decentralized services powered by $MuskIt.

Errol Musk emphasized that this buyback aligns with the token’s five-year vision, reinforcing a decentralized community and fostering innovation. Unlike traditional meme coins, $MuskIt is backed by the Musk Family and serves as the official token of Errol Musk’s Institute, driving blockchain adoption and sustainable technological advancements.

With its strong momentum, institutional support, and a well-structured buyback model, $MuskIt is positioning itself as a major force in the crypto space, blending memecoin excitement with real-world utility.