It's so funny that so many memecoins are created with the Use of Elon Musk.
Eloncoin, Dogelon, elonmars and I don't know how many more are created...

These creators believe that they are going to enjoy some fame given to them by Elon Musk if they use his name 

This shitcoin is going to enjoy a pump and dump as any of the above mentioned. All memecoins go up in the beginning when people think they are going to earn easy money and suddenly when the price drops everyone realizes that the coin was a "shitcoin".