Musk It (MUSKIT) Meme Coin Surge Highlights Solana's Congestion Problem Again

Solana is feeling the heat again after a massive surge in trading activity from Musk It (MUSKIT), a meme coin that's taken the market by storm.

Solana is experiencing another wave of heat as a meme coin, Musk It (MUSKIT), has taken over the market with a massive surge in trading activity.

The token, which has been flying under the radar since December 2024, has soared over 500% overnight, reaching a high of $0.69 before settling around $0.069.

The reason for this sudden surge? Errol Musk, the father of Elon Musk, has stepped in and claimed the project as his own.

According to Errol, Musk It is now part of the “Musk Institute,” a for-profit think tank that will focus on futuristic tech, such as flying vehicles.

This announcement has sent traders into a frenzy, pushing trading volume through the roof.

However, with all this excitement comes a familiar problem: Solana's network is struggling to keep up with the rush.

Transaction fees have spiked and network congestion has slowed things down, frustrating users who are trying to get in on the action.

MUSKIT is still holding onto its gains as traders are keeping an eye on whether it has more room to grow.

If the momentum continues, MUSKIT could test the next resistance at $0.045 and head toward $0.05.

But if traders start cashing out their profits, it could dip back to $0.035 before another potential run-up.

Now the big question is whether this is just a hype-driven pump or if Musk It has any real staying power.

Solana's congestion problem has investors searching for alternatives

Musk It's success once again highlights Solana's biggest weakness: network congestion.

With every meme coin craze, the blockchain struggles to keep up, leading some investors to search for alternatives.

One of the most promising solutions is Solaxy (SOLX), Solana's first Layer-2 scaling project:

Solana is hitting another wave of congestion with the launch of $MELANIA, a new meme coin that aims to support the First Lady.

Despite the massive wave of purchases that hammered Solana, their real TPS actually never spiked but degraded significantly, exposing Solana’s struggle with heavy network congestion.

Even worse, they didn't acknowledge it as “downtime,” and instead, they claimed to have hit 20K TPS. This is a blatant lie and a disservice to the community.

After being called out by several influencers and members of the crypto community, they finally had to admit that they never crossed 2K TPS.

This exposes the problems with meme coins and the false narratives that they can create, ultimately misleading investors and harming the broader crypto industry.

We've highlighted this issue before, and it's clear that Solana is struggling to meet the demand for these launches.

Even at lower TPS, the network grinds to a halt, highlighting the need for Layer-2 solutions like SOLAXY to improve scalability and user experience.

The hype around Musk It isn't slowing down yet, but traders know how quickly meme coins can rise—and fall.

For now, all eyes are on MUSKIT, Solana, and the traders trying to ride the next big wave.