On August 4th, the meme coin VINE rose 12.2% in the past 24 hours, currently trading at $0.07446, with trading volume expanding to $214 million, an increase of over 80%. The liquidation heat map shows that the price gained dense support in the 0.059-0.062 range and experienced short liquidation, triggering a technical rebound. However, the liquidation pressure in the 0.082-0.094 range is obvious, providing an opportunity for short-term main forces to sell.
Since Musk's tweet on July 24th hyping the AI revival of Vine, VINE briefly surged to $0.172, but without substantial follow-up news, selling pressure emerged, and it fell below the 30-day moving average. According to on-chain data, the top ten wallets still hold 40% of the supply, market liquidity risks remain unresolved, and the outflow of funds from the Solana chain further undermines basic confidence.
Bitunix analyst suggests:
Although VINE has a short-term rebound, its fundamentals remain weak. Without new positive stimuli, the price may struggle to stabilize above 0.082. Short-term support is 0.072-0.074, with resistance at 0.082 and 0.094. If the upward attack fails and falls below 0.068, short-term operations should be quick to enter and exit, and be wary of sudden sell-offs.
