The world's richest man Elon Musk seems to have greenlit the revival of old skool video app Vine, after an xAI worker introduced that the corporate has acquired the defunct cellular app.
In response, the Pump.enjoyable launched Vine Coin, VINE, created by the app’s co-founder, has spiked 122% over the previous three days.
Musk’s love affair with Vine began again in January when he mentioned he was “trying into” bringing again the favored app, amid considerations that TikTok can be banned within the U.S.. Not lengthy after, the co-founder of Vine, Rus Yusupov, launched a Solana meme coin hinting that the app’s return might probably use the token, prompting it to rapidly contact a $498 million market cap.
However that was short-lived. It has since fallen 89% to $55 million.
On Friday, Dane Jacobson, an worker of xAI, the unreal intelligence arm of Musk’s X, mentioned on X that the corporate now “owns” Vine. He requested his followers what must be performed with the app.
Musk responded “be happy to take that on,” with many taking this because the billionaire greenlighting the revival. Yusupov reposted the alternate.
Be happy to take that on
— Elon Musk (@elonmusk) March 29, 2025
Vine Coin pumped 110% from Friday into Saturday to a market cap of $52 million, following the Musk interplay. The token then retraced 41% to $30.55 million on Sunday, earlier than spiking one other 80% to $55 million on Monday. Over your entire three day interval, the coin climbed 122%, based on DEX Screener.
Polymarket betters consider there’s a 24% likelihood that X relaunches Vine earlier than July, down from 58% on the finish of January.
Alongside the launch of Vine Coin, Yusupov created a web site of the identical title which features a waitlist. This has spurred on rumors that the favored app will quickly return— and may even incorporate the token.
Musk has beforehand toyed with utilizing cryptocurrencies in his enterprise ventures, together with accepting Dogecoin for Tesla automobiles and investing in crypto via his corporations. Extra just lately, it was reported that the billionaire was pondering the usage of a public blockchain for the Division of Authorities Effectivity, though this hasn’t come to fruition but.
Equally, co-founder of Venmo Iqram Magdon-Ismail has created a podcasting app referred to as JellyJelly that makes use of a Pump.enjoyable token of the identical title for a tipping function. On its January launch, it spiked at a market cap of $248.5 million however has since fallen 94% to a $14.88 million market cap, based on DEX Screener.
Edited by Stacy Elliott.
