Musk It (MUSKIT), a meme coin tied to Elon Musk’s name, has surged over 2,200% after Errol Musk announced his plans to raise $200 million for the Musk Institute, sparking speculation around the token.
Meanwhile, SPX6900 (SPX) and AI Companions (AIC) are also defying the odds right now, with both coins posting considerable gains in the past day, while most others are selling off or trading sideways.
This comes as Wall Street Pepe (WEPE) continues to break records in its presale – raising over $65 million ahead of its official launch in February.
Musk It, a meme coin launched on Dec 12, saw a dramatic 2,200% surge that took it from $0.01 all the way to $0.22 before retracing back to the $0.064 level. Data also shows an 8,642% spike in 24-hour trading volume.
The price rally followed Errol Musk’s announcement of a $200 million fundraising effort to create a Musk Institute, a for-profit think tank that would focus on engineering and technological advancements, including flying vehicles.
Initially launched by a Middle Eastern firm, Musk It only gained traction after Errol Musk and his associate Nathan Browne lent their name to the project – despite Errol’s publicly strained relationship with Elon Musk, who has not acknowledged the coin for now.
It’s also important to note that, apart from the recent price rally, MUSKIT has been in decline since its launch, with its price slowly dropping from $0.055 all the way to the $0.01 low.
Meme coins are struggling right now – but SPX and AIC aren’t.
SPX6900 has jumped 7% in the past 24 hours, trading around $1.30 with a $1.2 billion market cap.
But the real star has been AI Companions.
AIC has surged 18% to hit $0.37, even hitting an all-time high during overnight trading.
Getting listed on MEXC futures yesterday was the big catalyst – traders piled in, proving that the hype around AI meme coins is still strong.
What makes the price pumps of SPX and AIC even more impressive is that most major meme coins are selling off or consolidating.
DOGE is down 1%, BONK is down 2%, and the TRUMP coin is down almost 8%.
These price drops mean the entire sector has fallen to a $92 billion valuation – a far cry from earlier this month.
But that hasn’t stopped SPX and AIC from showing that there’s always room for strong performances, even in a down market.
The broader crypto market is also a mixed bag right now.
Bitcoin has taken a slight dip, trading just above $104,000, and XRP and Solana have followed suit.
Only Ethereum has managed to post a small gain, up 2% in the past day.
Since yesterday, spot trading activity has slowed down massively, with volumes dropping 22%.
However, the Crypto Fear & Greed Index is still in “Extreme Greed” territory.
That optimism might have something to do with Trump’s latest move into the crypto space.
His media company just launched Truth.Fi, a $250 million venture aimed at crypto and DeFi.
The announcement sent his company’s stock soaring 15% in pre-market trading earlier this week – showing just how much weight Trump’s crypto plays carry these days.
Unsurprisingly, investors are buzzed about all of this.
The fact that a U.S. president is going all-in on crypto has boosted optimism despite the price blip this week.
Alongside SPX and AIC, Wall Street Pepe is another meme coin that is doing well despite the choppy conditions.
The project just hit a huge milestone, with its presale raising $65 million.
That’s serious money for a meme coin that hasn’t even hit exchanges yet.
Most of the early demand is down to Wall Street Pepe’s mix of meme coin fun and actual utility.
Touched grass. It was green. Just like me. 🐸⚔️ pic.twitter.com/WoUBIXHQbg
— Wall Street Pepe (@WEPEToken) January 30, 2025
While most projects in this space are just about vibes, Wall Street Pepe offers something different – think trading insights, competitions, and a staking program promising 19% annual yields.
The timing of Wall Street Pepe’s emergence couldn’t be better.
With SPX and AIC showing what’s possible and Trump’s latest crypto moves keeping everyone hyped, Wall Street Pepe is right in the sweet spot.
The project’s community is exploding too, with over 41,900 Twitter followers on board before the official launch.
Even ClayBro, a widely-respected crypto YouTuber, has endorsed Wall Street Pepe.
He predicted that WEPE could make millionaires if all goes well.
Though the presale’s success is making headlines, some are wondering: does any meme coin really need $65 million to get started?
But in a market where SPX is worth over $1.2 billion, and Trump’s crypto plays are hyping up investors, Wall Street Pepe’s massive raise might be the fuel it needs to explode after listing.
Visit Wall Street Pepe Presale
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