According to Followinx, On August 4, meme token VINE surged 12.2% in 24 hours, currently trading at $0.07446. Trading volume exceeded $214 million, up over 80%. Liquidation heatmaps show strong support between $0.059–$0.062 with short squeeze activity triggering a technical rebound. However, notable liquidation pressure between $0.082–$0.094 may provide large holders with an opportunity to exit positions.
Since Elon Musk's July 24 tweet teasing a Vine AI revival, VINE briefly spiked to $0.172 but quickly retraced due to a lack of follow-through. The token has since broken below its 30-day moving average. On-chain data reveals that the top 10 wallets still control over 40% of the total supply, and further capital outflows from the Solana ecosystem continue to erode market confidence.
Bitunix Analyst’s View:
While VINE has shown short-term gains, fundamentals remain weak. Without fresh bullish catalysts, sustaining levels above $0.082 will be difficult. Key support lies at $0.072–$0.074, while resistance levels are at $0.082 and $0.094. A failed breakout followed by a drop below $0.068 could invite further selling. Traders are advised to take quick, cautious positions and remain alert to potential whale-driven volatility.
