Musk's Dabbling in Cryptocurrency May Have Sparked the $VINE Meme Coin Frenzy

Musk has previously dabbled in cryptocurrency, allowing Dogecoin payments for Tesla purchases and exploring blockchain use in government projects.

Elon Musk is reportedly planning to bring back the short-video app Vine, according to a report by The Information.

Elon Musk is reportedly planning to bring back the short-video app Vine, according to a report by The Information.

The report, which cites internal correspondence and accounts from four people familiar with the matter, states that Musk has been discussing the app’s return with engineers and executives in recent months.

The report, which cites internal correspondence and accounts from four people familiar with the matter, states that Musk has been discussing the app’s return with engineers and executives in recent months.

The move comes amid heightened scrutiny of TikTok in the U.S., paving the way for alternative short-video platforms.

Earlier this year, Musk had posed the question of a Vine revival to X, formerly Twitter, users, with the majority expressing their preference for the app’s return.

Earlier this year, Musk had posed the question of a Vine revival to X, formerly Twitter, users, with the majority expressing their preference for the app’s return.

Moreover, he had expressed interest in exploring blockchain technology for government projects and permitting Dogecoin payments for Tesla vehicles.

However, there is no confirmation that $VINE will have a role in Vine’s possible return.

Musk had previously dabbled in cryptocurrency, allowing Dogecoin payments for Tesla purchases and exploring blockchain use in government projects.

Musk had previously dabbled in cryptocurrency, allowing Dogecoin payments for Tesla purchases and exploring blockchain use in government projects.

But a token linked to JellyJelly, a podcasting app created by Venmo co-founder Iqram Magdon-Ismail, saw its token rise to a market cap of $248.5 million before dropping 94% to $14.88 million.

But a token linked to JellyJelly, a podcasting app created by Venmo co-founder Iqram Magdon-Ismail, saw its token rise to a market cap of $248.5 million before dropping 94% to $14.88 million.

A similar pattern was seen with a token linked to JellyJelly, a podcasting app created by Venmo co-founder Iqram Magdon-Ismail. That token initially surged to a market cap of $248.5 million before dropping 94% to $14.88 million.

Meanwhile, another meme coin, Flockerz, has been gaining traction as it prepares to launch, with some investors hoping it could replicate $VINE’s early surge.

Originally acquired by Twitter and later shut down in 2017, Vine was among the first major short-video platforms. It was known for its looping six-second videos, which rose to prominence during the early days of social media.

Originally acquired by Twitter and later shut down in 2017, Vine was among the first major short-video platforms. It was known for its looping six-second videos, which rose to prominence during the early days of social media.

After acquiring X in 2023, Musk reportedly had engineers explore a Vine reboot, but no concrete action was taken.

With uncertainty surrounding TikTok’s future in the U.S., speculation about Vine’s comeback continues, as some see it as a potential alternative to the Chinese-owned platform.

With uncertainty surrounding TikTok’s future in the U.S., speculation about Vine’s comeback continues, as some see it as a potential alternative to the Chinese-owned platform.

While betting platform Polymarket initially placed a 58% probability on X relaunching Vine before July, that figure has now dropped to 24%.

Investors remain cautious, as the hype surrounding $VINE could fade just as quickly as it surged.