VINE, a Solana-based meme coin inspired by the defunct Vine video platform, skyrocketed more than 110% to $0.079 on July 24 after Elon Musk confirmed via X that Vine is "making a comeback" with an AI-powered twist. The token's market capitalization peaked at $80.7 million, gaining over $43 million in hours, before retracing to approximately $0.053—still maintaining a 47.5% 24-hour gain. However, VINE remains 88.4% below its yearly high of $0.46.
This rally marks another instance of the "Musk effect," where speculative assets surge on his social media activity. Though Musk revealed plans to reimagine Vine through his AI startup xAI, no formal link exists between his project and the VINE token, launched independently by Vine co-founder Rus Yusupov in January 2025. Binance Futures had previously listed VINE with 25x leverage, but the token saw minimal traction until Musk's announcement.
Analysts warn of coordinated whale activity and liquidity risks, noting similar Musk-driven pumps like Dogecoin and KEKIUS ultimately crashed. VINE trades on decentralized exchanges like Raydium and centralized platforms including LBank, with its utility unconfirmed. Yusupov hinted at integration in Telegram messages, fueling community speculation, but Musk's team has not acknowledged the token. Revived Vine would face intense competition from TikTok, Instagram Reels, and YouTube Shorts.