Vine Memecoin Surges to $500 Million Valuation in Half a Day

The defunct social media platform and precursor to TikTok, Vine, has resurfaced as a point of interest in the memecoin space following the Vine founder's endorsement of the VINE memecoin.

The VINE token launched on Jan. 22 and quickly ascended from the PumpFun bonding curve to a whopping $500 million market capitalization after Vine’s founder, Rus Yusupov, promoted the coin on X.

The coin’s success quickly ignited a “nostalgia memecoin” rally, but most of the subsequent beta tokens also quickly made their way to zero. VINE, meanwhile, is down 65% from its peak but continues to trade at a respectable $150 million market capitalization.

While it's presumed to just be a memecoin, Yusupov is keeping holders on their toes after posting yesterday on X, “The anniversary of Vine’s original launch is tomorrow. Have something sweet on the way ;)”

Today is the 12th anniversary of Vine’s debut in January 2013. Twitter purchased the company for $30 million just four months later. Many consider Vine to be a precursor to TikTok and one of, if not the first, short-form video social media platforms.

The social media and memecoin campaign come at an interesting time for TikTok, which is in an ongoing legal fight in the United States after getting banned in the country on Jan. 19 before being temporarily reinstated.