The Launch of Vine Coin
Rus Yusupov, one of the co-founders of the now-defunct short-form video app Vine, has ventured into the cryptocurrency world with the launch of Vine Coin, a new meme coin inspired by the app’s legacy.
- The announcement quickly gained traction among crypto enthusiasts, driving the token’s market capitalization to surpass $200 million within its early trading hours.
Market Response and Performance
- As of 11 a.m. EST yesterday, Vine Coin was trading at around 16 cents, with a market cap of $164 million.
- The coin has become a trending topic, joining the ranks of meme coins that have recently captivated traders.
Yusupov’s Announcement on X (formerly Twitter)
Yusupov officially announced the launch of Vine Coin with a post on X, stating:
“Remember all the fun building Vine. Time to relive the magic and DO IT FOR THE #VINECOIN.”
To further validate the announcement and ensure credibility, Yusupov posted a selfie, assuring people that his account had not been hacked.
Elon Musk’s Vine Revival Hints
Hints about the revival of the Vine application emerged alongside the launch of Vine Coin, fueled by Elon Musk’s speculations:
- Musk responded to a user on X asking him to bring Vine back, stating:“We’re looking into it.”
- In April 2023, Musk conducted a poll asking users if Vine should be rebooted, with 70% voting in favor.
- Following the October 2023 acquisition of Twitter (now X), media reports indicated that Musk told engineers to consider reviving Vine.
History of Vine and the Popularity of Meme Coins
- Vine was launched in 2012, acquired by Twitter in 2013, and became one of the most popular social media platforms in the world before shutting down in 2017.
- The nostalgia surrounding Vine, combined with the rising popularity of meme coins, has amplified the hype around Vine Coin’s launch.
What’s Next for Vine Coin?
The launch of Vine Coin has sparked excitement and curiosity among investors.
- Its association with Vine’s cultural legacy, along with potential developments from Elon Musk regarding the app’s revival, could significantly influence the coin’s future performance.
Stay tuned for updates as Vine Coin continues to make waves in the meme coin and crypto space!
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