New token surges 200% after Musk teases revival of nostalgic video app
Vine Coin (VINE), the native cryptocurrency of the now-dormant Vine video app, logged a significant rally in the last few hours. The surge in the token's price was triggered after Tesla CEO Elon Musk indicated his plans to resurrect the app after it went into hibernation in 2017.
We’re bringing back Vine, but in AI form
— Elon Musk (@elonmusk) July 24, 2025
VINE surged as much as over 200% following Musk's tweet to trade at $0.0825.
The Vine app was founded in 2012 as a mobile app for video sharing by Rus Yusupov, Dom Hofmann and Colin Kroll. Soon after its launch, Jack Dorsey-led Twitter (which Musk bought and renamed to X) purchased this app for reportedly $30 million.
The first time Musk initiated a conversation around Vine was in April 2024. At the time, the billionaire had posted a poll on his X handle, asking if people wanted Vine to return. A majority of voters - 69.9% - voted in favor of its resurrection.
With Musk's acquisition of X and its assets in 2022, Vine automatically fell into his basket. On July 24, the X CEO confirmed that Vine, indeed, is making a comeback.
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While elaborate details on Musk's idea for Vine remain undisclosed for now, it seems like his AI firm - xAI - could be tasked with giving the dormant app an AI makeover.
In a bid to immortalize the existence of the video-sharing app, Vine's Yusupov released the Vine Coin token in January. Up until Musk's latest post around Vine, the token's performance remained lackluster. In the last few hours, however, the price of the token has seen some extraordinary action. It still remains volatile owing to the buzzed-up hype.
At present, 999.99 million VINE tokens are in circulation and the maximum cap of the token remains undecided. Its market cap rose by 54% since Musk's post to claim its current valuation of $64.02 million.
At press time, VINE was trading at $0.06898.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.