The post Vine founder posts meme token for fun, whales quickly snipe the supply appeared on BitcoinEthereumNews.com.

The founder of Vine, Rus Yusupov, announced an official meme coin—Vinecoin (VINE). The token was soon sniped by whales, with large SOL orders coming hours after the launch.  Vinecoin (VINE) is the next official meme token expected to make it big with a valuation above $1B. Vine founder Rus Yusupov posted a CA for a new asset, with proof his account was not hacked. Rus posted on X, claiming the token launch was driven by nostalgia.  Remembering all the fun we had building vine — Let’s relive the magic and DO IT FOR THE #VINECOIN CA: 6AJcP7wuLwmRYLBNbi825wgguaPsWzPBEHcHndpRpump — Rus (@rus) January 23, 2025 The announcement came just two days after Elon Musk posted a message about wanting to revive Vine. By owning X, Musk also controls the Vine brand and the archive of old videos. The relaunch of Vine, combined with an official meme token, would extend the ‘Made in USA’ crypto trend with a new locally launched video service for short formats. The token was launched at a time when the AI agent launch trend was slowing down, while attention shifted to official meme tokens tied to real persons or brands. Despite the ‘fun’ element, whales and exchanges took VINE seriously, and trading accelerated. Early sniping by smart money and wallet clusters led VINE to over $200M in market capitalization in the first hours of trading.  In the early hours, some whales also realized gains, causing a small drawdown from the top. However, VINE is considered the next meme to break the $1B market cap milestone.  VINE rallied immediately after the proof of authenticity by the founder of the video service. | Source: DexScreener The token launch also coincides with the hint at relaunching a video service similar to Vine, which could integrate the token for tips or payments.…

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Filed under: News - @ January 23, 2025 10:28 am