Odaily News Report: Vine co-founder Rus Yusupov announced the launch of VINECOIN and released the token contract on . He also released a video confirming that his account was not hacked, and that he was "just having fun". GMGN data shows that VINECOIN briefly surpassed $0.035, currently trading at $0.028331, with a market cap of $28.8 million. Odaily reminds users that MEME coin prices are highly volatile, and investors should exercise caution. Previously, Elon Musk stated that he is "considering" restarting Vine. Vine was a free mobile app owned by Twitter (now called X), which allowed users to create and share short videos up to 10 seconds long on social networks like Twitter and Facebook. Twitter announced the closure of Vine on October 27, 2016, as part of a company restructuring, but the uploaded videos will not be deleted.