The founder of the short video sharing platform Vine unexpectedly created the memecoin VINE, and the community has received it with great enthusiasm. The market capitalization of VINE has at one point reached $250 million in less than 10 hours after its launch.
The "original" VINE memecoin reached a market capitalization of $250 million in just half a day
A new memecoin every day. And today is the day of VINE.
The topic of social media is quite hot in the US, as the new President Donald Trump has just signed an order to postpone the ban on TikTok for an additional 75 days.
Without going into too much detail on this topic, let's move on to the crypto market and especially the meme sector, where hot topics like this are often "tokenized" and "memecoinized" for traders to speculate on.
The appeal of memecoins is undeniable, especially during the current "super memecoin cycle". To the extent that even President Trump and his wife have joined the fray, launching TRUMP and MELANIA which have been causing a stir in recent days.
Not wanting to miss out on the action, on the morning of January 23, 2025, the long-silent account of Vine founder Rus suddenly "surfaced", posting the smart contract (CA) of the VINE meme token.
Remembering all the fun we had building vine — Let's relive the magic and DO IT FOR THE #VINECOIN
— Rus (@rus) January 23, 2025
CA: 6AJcP7wuLwmRYLBNbi825wgguaPsWzPBEHcHndpRpump
For those who don't know, Vine was a US-based short video hosting service where users could share 6-second videos. Vine was founded in June 2012 and became a popular platform where people posted funny videos and updated their lives.
Twitter acquired Vine in October 2012 before officially launching it on January 24, 2013. But unfortunately, the project ceased operations in 2016.
When TikTok "invaded" the US market, people started to remember Vine and wished to revive the project, creating a "original" video platform of the Stars and Stripes. And bingo! Vine belongs to Twitter, and Twitter has been acquired by Elon Musk in April 2022 and renamed to X.
Previously, the US media reported that Elon Musk had plans to revive Vine, and had asked his engineers to work on this project. On January 19, 2025, the billionaire reaffirmed once again:
We're looking into it
— Elon Musk (@elonmusk) January 19, 2025
Needless to say, the crypto community has welcomed VINE with great enthusiasm.
$VINE will be all over the headlines soon
— Sweep (@0xSweep) January 23, 2025
I think we found the next $1BN meme
Just a matter of time, the narrative is there pic.twitter.com/tISR41SCgX
In less than 24 hours after its launch, VINE has soared to a market capitalization of over $250 million, with a trading volume reaching $636 million. VINE is currently priced around $0.19, down slightly from its ATH of $0.25.
Source: Dexscreener
On the project's website, Rus affirmed:
"I am launching the VINE token to commemorate the beauty of unity and creativity. I will not sell any dev tokens and all profits will be donated to X, the lighthouse illuminating freedom of speech and self-expression."
This person also announced on X:
All $VINE dev tokens are locked until 4/20 at 4:20pm.
— Rus (@rus) January 23, 2025
The re-locks will continue until Vine comes back.
🌱 pic.twitter.com/EfGGWw3Svn
"All VINE tokens owned by the dev team are currently locked until 11:20 PM on April 20, 2025 (Vietnam time).
And they will be locked again until Vine returns."
