Vine Co-Founder Rus Yusupov Launches Meme Coin, Market Cap Skyrockets to $230 Million

Rus Yusupov, the co-founder of the iconic short-form video app Vine, has entered the crypto space with the launch of the meme coin VINE on Solana. 

The announcement came in the form of a tweet from Yusupov, which has already sent shockwaves through the crypto community and revived nostalgia for the Vine era.

Rus Yusupov Drops VINE Coin

The tweet immediately caught the attention of both crypto enthusiasts and Vine fans, quickly driving up interest in the newly launched coin

“Remembering all the fun we had building Vine — Let’s relive the magic and DO IT FOR THE #VINECOIN,” Yusupov shared with his followers.

Yusupov also posted a video on X to make his followers believe that he is really behind the VINE coin. The enthusiasm surrounding the tweet resulted in a rapid surge in the Solana-based VINE token’s price and market capitalization.

Nevertheless, Vine co-founder Dom Hoffman said he is not involved with the meme coin.

“I’m not involved and will never be involved with any meme coin,” Hoffman posted on twitter.

According to data from Dex Screener, the meme coin has surged by a whopping 250,000% since launch. At press time, the token was trading with a market cap of $232 million.

One crypto user on social media platform X claimed to have bought $10,000 worth of VINE as soon as the announcement went live, and their investment skyrocketed to a staggering $1 million. 

“I bought this VINE for $10,000 as soon as Rus tweeted and now its worth $1,000,000. Pretty insane,” the user noted.

There were similar comments from other VINE holders as well.

“My VINE bag was worth $4,000 6 hours ago and now its $500,000. Supercycle is real,” another user wrote.

The VINE token has caught the attention of investors and has also made its way onto the crypto exchange Bitmart. The announcement said trading will begin on January 23 at 10 AM UTC.

Yusupov’s entry into crypto has garnered significant attention, largely due to his viral success with the Vine app. The short-form video app that dominated social media was shut down in 2017. 

The launch of VINE comes as Elon Musk recently said he is looking into bringing back the beloved social media app. The billionaire also conducted a poll in April 2024 asking, “Bring back Vine?.” Nearly 70% voted yes.