Elon Musk replied to a Vine-related tweet, meme coin VINE's market cap surpasses $50 million

BlockBeats News, March 29th. Musk replied to a question on the X platform about xAI's acquisition of X and ownership of the short video platform Vine, saying, "Feel free to take that on." In response to this, according to GMGN market information, the Solana-based meme coin VINE has surpassed a $50 million market cap, currently standing at $42 million with a 24-hour price increase of 68%.

Today, xAI announced the acquisition of X, and Vine is a former popular short video platform previously owned by Twitter from 2013 to 2017 before being shut down. Musk had previously conducted polls asking whether Vine should be revived, and xAI's current ownership of Vine has sparked discussions about its future. Previously, one of the founders of the short video platform Vine, Rus Yusupov, announced the release of VINECOIN on pump.fun and published a video confirming that his account had not been compromised. On January 19th, Musk replied to a netizen's question, stating that X is considering reintroducing the short video sharing platform Vine.

BlockBeats reminds users that most meme coins have little to no practical use case, experience significant price volatility, and investment should be approached with caution.