Meme Coin Vine skyrockets after Elon Musk announces the app will return with AI technology

Elon Musk just announced that the once-popular video app Vine will return in the form of AI. Immediately, the meme coin Vine Coin on Solana – released by Vine co-founder Rus Yusupov in January – surged in value.

The uncertain future of Meme Coin Vine

Yusupov reposted an old post of his about "the viral short video feed #AI " along with an AI-generated video, seemingly an early demo of the upcoming Vine app. Vine Coin, launched by Yusupov along with the app's waitlist link, once reached a market cap of nearly 500 million USD before a sharp decline.

After #Musk rekindled interest in the app's relaunch, the price of Vine Coin more than doubled, reaching a peak market cap of 86.7 million USD. However, this occurred without any official confirmation that the app would utilize Vine Coin or have any relation to this meme coin.

Although some users speculate that $VINE Coin will have utility within the app, currently this token has given back some profits and remains down 87% from its all-time high.