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VINE token rallies as Elon Musk announces reboot of an AI-integrated Vine

ByHristina VasilevaHristina Vasileva
2 mins read
VINE token rallies as Elon Musk announces a return of Vine in AI form
  • Elon Musk announced Vine, the short video service, may come back “in AI form.”
  • The VINE token, a meme with no utility, rallied by as much as 79% on Raydium following the news.
  • New copycat tokens were created, aiming to tap the hype, but as usual, the risk of rug pulls are high.

Vine may return based on fanbase demand, with AI technology this time. Elon Musk announced the short video service will be remade in AI form. 

The long-awaited Vine reboot caused Vine tokens named after the video platform to go parabolic after Elon Musk announced that the short video service would return. 

Vine, formerly acquired by Twitter, is one of its dormant assets that draws attention due to the nostalgia among Internet communities. 

A revival of Vine was envisioned as competition to TikTok, or as an alternative short-format video in the case of a TikTok ban in the USA. It remains uncertain how AI will be included in the Vine production pipeline. Currently, X has hired more engineers to create avatars and personalities for its AI assistants, and that may spill over to Vine. 

VINE token goes vertical

Vine has already returned in crypto form, ushered in by the creator of the video service Rus Yusupov. The VINE token remained a minor crypto asset, but it reacted immediately to the news of a new Vine service. 

VINE token rallies as Elon Musk announces a return of Vine in AI form
VINE went vertical following Elon Musk’s announcement. | Source: Coingecko

The token rallied by 62% within minutes, recovering to $0.07 from recent lows of $0.03. 

VINE token remains volatile, erasing most of its value after the token launch. The recent positive news lifted the token to levels not seen since May. Until recently, VINE traded sideways, mostly following the general direction of the meme market. Even the vertical move is relatively small compared to the initial drop where VINE token lost over 90% of its value from a peak of $0.40.

VINE pump remains risky

At this point, it remains uncertain if the current version of VINE on the Solana chain will have any formal connections to the revived Vine project. It is worth mentioning that the current pump happened with relatively low trading volumes of around $68M. 

VINE is mostly carried on LBank, Gate, and Raydium, allowing whales to pump the token. Analysts are advising caution, as the pump may be deliberately set to trap newcomers. 

VINE also traded at a premium on Raydium, where even a small injection of liquidity could sway the price. Some of the top VINE token traders also sold into the pump, as the decentralized pair allowed for even more active growth of 79% within an hour. The leading whale sold into the pump, then rebought some of the tokens for less. 

VINE token rallies as Elon Musk announces a return of Vine in AI form
VINE rallied on Raydium, while one of the leading whale traders sold at the recent peak. | Source: DexScreener

The VINE rally was also extremely short-lived, staging a reversal in less than an hour after Musk’s announcement. 

VINE is held by over 95K users, mostly retaining its status as a meme token. VINE does not promise utility, and has officially been launched as a token to show support for the project. The token is not tied to a project or on-chain social media. 

The hype around VINE is also starting a wave of copycat meme tokens. Another asset, vAIn, was created immediately after Musk’s statement. The token still trades under a penny and remains extremely illiquid, relying only on decentralized liquidity pools. 

The asset was launched using LetsBonk, the currently dominant Solana meme token launchpad. The token’s supply is already sniped and stored in related wallets, making it even riskier for selling.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Hristina Vasileva

Hristina Vasileva

Hristina Vasileva specializes in DeFi, business, and economic news. She graduated from Sofia University with an MA in Philosophy, after completing a 4-year BA in Business Administration, Journalism, and Mass Communication. She has worked for one of the country’s leading newspapers, covering the commodities and corporate results beat. Currently, Hristina is a contributing news author at Cryptopolitan.

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