Solana Meme Coin Soars as Elon Musk Hints at Vine Revival
Elon Musk, the billionaire and Dogecoin fan, has seemingly given the green light to the revival of the video app Vine, sending a related meme coin soaring.
On Friday, Dane Jacobson, an employee of xAI – Musk’s AI company X – revealed that they had acquired Vine. When Jacobson asked on social media what to do with the app, Musk replied: “Feel free to take it on.” This led many to speculate that Vine might be making a comeback.
Shortly after, Vine Coin (VINE) was launched on the Pump.fun platform by Vine co-founder Rus Yusupov. The token has soared 122% in the past three days, reaching a market cap of $55 million.
Solana meme coin craze continues
Musk's interest in Vine began in January when he hinted at the possibility of bringing the app back, especially amid concerns about a TikTok ban in the US. Yusupov then launched the meme coin VINE, which caught the attention of the crypto community and quickly reached a market cap of $498 million before falling 89% to its current level.
Along with VINE, other meme coins on Solana also recorded strong gains. While the top 10 cryptocurrencies by market cap have not seen major fluctuations, tokens such as TRUMP, MELANIA, and FARTBOY have seen double-digit gains. Official Trump (TRUMP), a token endorsed by Donald Trump, is up 12.4% in the past 24 hours, while MELANIA – a token associated with his wife – is up nearly 2%.
Is Vine really coming back?
Vine Coin saw a 110% gain from Friday to Saturday, reaching a market cap of $52 million, before falling 41% on Sunday before recovering 80% on Monday. These moves show the community’s strong interest in the possibility of a Vine revival.
Polymarket now rates the probability of X relaunching Vine before July at 24%, down from 58% in late January. At the same time, Yusupov also launched a Vine Coin website with a waiting list, fueling rumors that the app could integrate the token in the future.
Musk has previously experimented with integrating cryptocurrencies into his companies, from accepting Dogecoin for Tesla to considering using blockchain in government projects. However, there has been no official confirmation on whether Vine will actually return.
Will Vine return under a new blockchain-based model? If Musk continues to show interest, the meme coin market could see even more volatility.