With how closely-tied the crypto market is to Elon Musk, anything's possible. I can imagine his new coin soaring all the way to the moon due to hype. If he made Dogecoin go from being worth nothing to nearly half a dollar (USD), imagine what he can do with his little creation. I don't think the coin itself will have real use cases other than being a purely-speculative asset. It'll be another Dogecoin, if you ask me.

Believe me, crypto is all about utility. A coin without that will quickly fade into oblivion. Nowadays, people think about making money so they don't care if the coin they're investing into is useless. With this mindset, speculative coins like Dogecoin and Shiba Inu be at the top even if they provide no intrinsic value. I sometimes wish Elon Musk would just focus on building on top of crypto instead of hyping it, for the good of the industry. No one knows what he has in mind, but if he makes his own coin, it would probably serve as a means to manipulate the market. All that matters is that crypto remains decentralized and censorship-resistant. As long as it stays that way, we should have nothing to worry about. Just my opinion