Is Musk's $VINE token a scam? The zeroing alarm has sounded loudly!
Musk casually mentioned on Twitter that "Vine is set to be revived with a 'V2 version,'" and the entire cryptocurrency circle went crazy speculating on Vine. However, there were already warning bells ringing behind the scenes; Musk's tweet was like a smoke bomb, and the token's price skyrocketed for just a couple of days before being cut in half, exposing the fragility of celebrity effects.
Musk's attitude towards $DOGE also changes every few days, praising it today and shorting it tomorrow. His criticism of $BTC environmental issues and Tesla's acceptance of Bitcoin payments is even more contradictory.
On-chain data shows that over 90% of the tokens are concentrated in the hands of a few whales, with prices completely manipulated at their fingertips, leaving retail investors as mere fish on the chopping board. The selling pressure from exchanges is flooding in, and platforms like MEXC show that major players are frantically offloading their holdings, clearly looking for someone to take over.
On the surface, the market value looks impressive, but the actual trading pool is pitifully shallow and cannot withstand any turbulence.
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