Vine is back, but it is now a meme coin with a $320 million market cap

Vine must have been a thing of the past, but its co-creator is now fueling its hype of nostalgia with a meme coin. Since its launch, it’s skyrocketed to hundreds of millions of dollars in market cap.

Rus Yusupov, co-creator of Vine, has launched $VINE in what perhaps is one of the craziest crypto stories of the year. The meme coin, which folks over at Altcoin.News reported, initially started with a $4 million market cap before soaring to $320 million at the time of the publication. And it keeps growing.

That was his first-ever tweet after over a year-long hiatus from X.

“I haven’t posted a selfie in ages but here. Not hacked! Just having fun,” Yusupov posted on X to verify the call.

With a current market cap of that amount, $4.8 million in liquidity, and a 24-hour trading volume of $628.5 million, the coin has seen high activity and bullish momentum. Rus has pledged not to sell his tokens and plans to donate profits to the Elon Musk-owned X platform (formerly Twitter) instead.

Musk has previously expressed his interest in bringing back Vine, the video-sharing platform that was shut down in 2017. The rumor started last year when the Tesla billionaire opened a poll to “bring back Vine,” only for him to reignite the rumor again this year.

“We’re looking into it,” Musk said on X over the weekend. 

Now, if you access Vine’s website, you’ll be greeted with a message saying, “Thank you for all the inspiration, laughs, and loops. We have now placed Vine in an archived state.”