The recent trend of $VINE is indeed worth paying attention to.
This meme coin issued on the Solana chain was launched by the co-founder of the original VINE platform, with a total supply of 1 billion coins that will never be increased. This scarcity setting inherently carries speculative genes.
From a market performance standpoint, last month, due to Musk tweeting about restarting VINE in the form of AI, the news caused a direct surge of 107.8%. In a single day, whale funds poured in over a million, peaking at 0.18. It has now pulled back to around 0.068, and on the daily chart, there are already noticeable signs of bottoming out, indicating a potential short-term rebound.
The characteristics of this coin are quite evident; it is a typical product of market sentiment.
Whether one can make money largely depends on whether they chase the price at a high or layout in advance.
Now at the 0.06 position, it has dropped more than 60% from its peak, and technically, there is indeed a demand for a rebound.
However, one must also be cautious, as the rise of meme coins often relies on news stimuli and lacks fundamental support.
Currently, the entire meme coin market is moving according to news, and the future trend of VINE will largely depend on whether Musk will tweet again about it, as well as the overall performance of the Solana ecosystem.
If you want to participate, make sure to set a stop-loss.
