Vine: Co-Founder Announces New Meme Coin Launch

Vine: New Meme Coin After Now-Defunct App

Vine: Latest News Around New Coin Launch

Rus Yusupov, a co-founder of Vine, announced the launch of a meme coin this week. The coin is to be named after the now-defunct short-form video app.

Vine Coin

As per the latest crypto news, crypto enthusiasts jumped on the coin, bringing the token’s market capitalization to surpass $200 million. Around 11 a.m. EST, yesterday, the vine crypto coin had been trading for around 16 cents, market cap $164 million.

Vine coin crypto is one of the many meme coins that have recently gained a lot of traction among crypto traders.

New Meme Coin Launch - X Post

The app was co-founded by Rus Yusupov with Colin Kroll and Dom Hofmann in 2012. However, it was discontinued in 2017. This Wednesday, he made a post on X (formerly Twitter), saying. “Remembering all the fun we had building Vine, Let’s relive the magic and DO IT FOR THE #VINECOIN.”

He further posted a selfie to prove his account wasn’t hacked.

Elon Musk Hints Bringing Back Vine

Talking of the Vine app, Elon Musk also fueled speculations regarding Vine social media app revival. 

The Tesla CEO and SpaceX founder also posted on X, "We’re looking into it."  This was in response to him being tagged in a post that included the Vine logo and said, "I think it's time to bring it back @elonmusk." This was a day before Yusupov made his posts on the social media platform.

Musk had conducted a poll on X, last April, where nearly 70% of participating users voted in favor. Shortly after buying Twitter in October 2023, it was in news that Musk had instructed the company's engineers to start working on rebooting Vine.

One of the most popular social media platforms globally in its day, increasing popularity brought Vine to being bought by X, then Twitter. 

Also, Vine crypto is in the list of meme coins that skyrocketed amid Trump’s presidency.