Vine Coin (VINE) has surfaced as a cryptocurrency sensation following Elon Musk’s suggestion of reviving the iconic short video platform. Musk recently signaled potential interest in Vine’s resurrection, coinciding with the cryptocurrency’s launch by platform CEO Rus.
When it was released in 2012, Vine was a cutting-edge video-sharing program that let users create six-second looping videos. Its innovative concept captivated millions, generating numerous internet celebrities. Although X discontinued the platform in 2017, Vine’s cultural impact persisted as content creators seamlessly transitioned to alternative digital spaces like YouTube and Instagram.
Current Market Overview
At press time, Vine Coin is trading at $0.2897 with a trading volume of $460.33M in the last 24 hours. The price of VINE shows a 12.30% price gain over the previous day, increasing its market capitalization to $281,744,716. There are 999,994,104 VINE coins in circulation, with a maximum of 999,994,302 coins.
Market analysis shows VINE’s highest price reached $0.4194 on January 23, 2025. Its lowest price was $0.108, recorded on January 24, 2025. The fully diluted valuation of VINE stands at $269,798,625, reflecting its potential maximum market cap based on full token circulation.
Technical Analysis Highlights Mixed Sentiment
Vine Coin noted neutral momentum in the short term, citing an RSI value of 46.57 on the 15-minute chart. Analysts explained that the MACD line has crossed above the signal line, suggesting a bullish crossover. While the histogram indicated a shift to positive momentum, experts cautioned that values near the zero line imply weak overall movement.
Key resistance for VINE lies between $0.30 and $0.35, which has capped recent rallies. Support levels are identified around $0.25, where previous price recoveries have occurred. Vine’s derivatives market shows a substantial surge in VINE’s trading volume, which increased by 362.43% to reach $4.86 billion.
Open interest also grew by 127.71%, totaling $77.57 million, pointing to increased market participation. Moreover, a bearish sentiment is noted with Binance’s long/short ratio at 0.6513. Liquidation data revealed $14.43 million in rekt activity over the last 24 hours, largely driven by $8.20 million in short liquidations.
Availability and Popular Exchanges
Vine Coin is accessible on both decentralized and centralized exchanges. Raydium leads trading activity, with its VINE/SOL pair accounting for a volume of $518,647,252 in the last 24 hours. Other exchanges such as Bitget and LBank are also facilitating VINE trades, providing diverse options for market participants.
Also read: Solana Hits $1.6 Trillion in Stablecoin Transfers, Dominates DeFi
