Account claiming ties to Elon Musk’s son launches Solana memecoin, hits $13M cap before crashing 86%

The $MAX token surged after Musk followed the account, then collapsed when he unfollowed it An X account claiming to represent Saxon James Musk, Elon Musk’s son, launched a Solana memecoin called $MAX. The token reached a market cap of around $13 million, then lost 86% of its value after Musk unfollowed the account. The identity claim behind the account remains unverified. The Musk family has not confirmed or denied any connection, which leaves traders holding a token tied to a name nobody can vouch for. The sequence started on November 10, 2026, when Elon Musk followed @ChainChomp131. At the time, the account had about 5,000 followers, a modest audience by X standards. The account launched $MAX on Solana roughly on November 11 or 12.