Elon Musk and the attempt to return to life for the old video application Vine rapidly increased the value of a related breast coin.
Elon Musk and Vine’s possibility of reviving the breast coin market detonated
Elon Musk, the richest person in the world, seems to have suffered a green light on the resurrection of the old popular video application Vine. An employee from the XAI company announced that the company has purchased the closed mobile application Vine.
Following this statement, the Pump.fun platform launched Vine Coin (VINE) created by the founder of the application. This coin increased by 122 %in the last three days.
Elon Musk’s interest in Vine began in January with the announcement that he was “investigating” on his plans to bring back the application. Meanwhile, Tiktok’s concerns in the United States were on the agenda. Shortly thereafter, Russian Yusoov, the founder of Vine, issued a Solana Breast Coin, which pointed out that the return of the application could be supported by this token. This news rapidly caused a market value of $ 498 million.
However, this rise was short. Currently, it has decreased by 89 %to a market value of $ 55 million.
The latest situation in the solana breast coin market
According to Coingecko, there was no significant mobility between the crypto currencies in the top 10 in terms of market value in the last 24 hours. However, in the world of breast coin, Trump, Melania and the newly emerged Fartboy, such as tokens recorded double -digit rise.
Official Trump (Trump) token is supported by the US President and experienced an increase of 12.4 %in the last 24 hours. Melania Breast (Melania) token, which belongs to his wife Melania Trump, recorded a 2 %rise.
The rise of Musk and Vine Coin
On Friday, Dane Jacobson, who worked in Musk’s artificial intelligence company XAI, announced on the X platform that the company now has Vine. He asked his followers what to do about the application.
Musk replied, ın Don’t hesitate to undertake this ”. This comment was interpreted by many people that Vine has approval to revitalize. Yusoov again shared this interaction.
After Musk’s interaction, Vine Coin increased from Friday to Saturday by 110 %and reached a market value of $ 52 million. However, it fell by 41 %on Sunday and fell to $ 30.55 million. Then on Monday, it increased by 80 %again to $ 55 million. The total increase of three days was 122 %.
According to Polymarket investors, the probability of restarting Vine’s Vine before July is estimated to be 24 %. This rate was 58 %at the end of January. In addition to the release of Vine Coin, Yusoov has created a website of the same name and added a waiting list. This move further strengthened the rumors that the application could soon return and that the token could be used on this return.
Elon Musk and Crypto Money Market
Musk had previously thought of using crypto currencies in business initiatives. He made attempts to accept Dogecoin as a payment method for Tesla vehicles and to make crypto investments through his companies.
More recently, Musk reportedly thought about the idea of using a public blockchain to provide transparency for the Public Administration’s Efficiency Department. However, this project has not yet realized.
Venmo’s founder, Iqram Magdon-Ismail, also created a podcast application called Jellyjelly, which includes a tip system that uses the Pump.fun token. When the application was released in January, it reached a market value of 248.5 million dollars, but since then, it decreased by 94 %to $ 14.88 million.
Elon Musk’s move to revive the Vine re -evoked significant repercussions not only in the world of breast coin, but also in the general crypto currency market. The performances of tokens such as Pepe, Trump and Melania also create a great mobility in the market.
