VINE Coin skyrockets 100% after Elon Musk teases AI-powered Vine comeback

Vine Coin is among the few tokens with bullish trends on Friday, as most digital tokens traded in red with Bitcoin weakening around the $116,000 mark.

While bearish signals threaten the much-awaited altcoin season, VINE exploded from $0.03770 to $0.07945 within minutes.

That led to an approximately 110% on its daily chart.

The staggering surge materialized after Elon Musk sparked excitement in tech and crypto communities.

The Tesla CEO confirmed plans to relaunch the short-form video app, Vine, leveraging artificial intelligence.

A cultural icon is coming back

Instagram Reels and TikTok have dominated the short-video industry lately.

Nonetheless, the Vine app was a cultural representation of the early 2010s. Individuals used it to record and post 6-second videos.

While this approach appeared limiting (at first), it quickly grabbed the attention of the creative online community.

Vine became the birthplace of multiple viral trends and internet stars.

Many internet personalities, including King Bach and Logan Paul, started their online influence on Vine.

Notably, Vine launched in 2012 before X (formerly Twitter) acquired it.

The video site laid the foundations of the current short-form video giants like Instagram Reels and TikTok as of its 2017 shutdown.

Thus, nostalgia dominated the social media sector after Musk announced an AI-centric Vine revival.

Despite the scarce details, the idea of integrating AI has sparked debates about the upcoming possibilities for creators.

Individuals anticipate advanced features like enhanced user customization and auto-generated content.

Musk’s post comes as artificial intelligence revolutionizes the financial industry without slowing momentum.

Thus, VINE Token, inspired by the original Vine app, rallied following the announcement.

Vine Coin explodes on hype

VIEN has recorded stable gains since July 1 at $0.0275 amid broad market bull runs.

However, its momentum faded on July 23, triggering notable declines from $0.04512 to yesterday’s low of $0.3574, driven by market-wide profit-booking.

However, VINE rebounded after Elon Musk’s post, exploding by over 110% to Friday’s intraday high of $0.07945.

It is trading at $0.05336 after retracing from today’s peak.

VINE has witnessed its daily trading volume soar nearly 1,300%.

That signals intensified trader activity as players capitalize on the existing volatility.

Nevertheless, broad market sentiments remain vital in shaping the token’s direction.

The global cryptocurrency market cap hovers at $3.8 trillion after losing 1.40% in the past day.

It displays weakness as profit-taking kicked in after topping $4 trillion.

Continued bearish activities could see VINE plunging further in the coming hours as bullish momentum fizzles.

However, further updates from Elon Musk could catalyze more gains for the VINE coin.

Meanwhile, analysts trust the current declines present dip-buying opportunities as the market signals swift bounce-backs.

Michael van de Poppe anticipates another bullish breakout for altcoins as Bitcoin approaches a decisive moment.

Meanwhile, enthusiasts watch how AI will define the impending bull run.