VINE's Strong Rise: Musk Hints at Reviving Vine, Igniting On-Chain Data, Will the Same-Named Meme Coin Challenge a Market Capitalization of 500 Million?

Driven by Musk's hint at reviving the short video platform Vine with AI technology, the eponymous Meme coin VINE experienced explosive growth at the end of July. On-chain data shows that the number of token holders is approaching 100,000, with daily DEX trading volume exceeding $35 million, and Whales investing $3.19 million to accumulate. Although the concentration of holdings raises concerns, the community expects the market capitalization to soar from $150 million to $500 million. This article provides an in-depth analysis of VINE token's on-chain metrics, Whale movements, and potential risks.

[Musk Effect: The Driving Force Behind VINE's Strong Performance Against the Trend]

In late July, Tesla CEO Elon Musk mentioned the possibility of reviving the closed short video platform Vine using AI technology, triggering a strong reaction in the cryptocurrency market. Notably, this is not the first time Musk has mentioned Vine—earlier, on January 18, 2025, he had stated that he was "considering" restarting the platform, after which Vine co-founder Rus Yusupov launched a meme coin of the same name.

Unlike most Meme coins that experience wild fluctuations under the "Elon Musk effect", VINE has continued to strengthen after Musk's latest statement on July 24. The on-chain key indicators have performed brilliantly for a week, breaking the market's inherent perception of selling off immediately after a celebrity endorsement.

[Whale invests heavily: $3.19 million SOL purchased 22.4 million Tokens]

On-chain analytics firm Lookonchain has detected a key movement: on the morning of July 28, the whale wallet "8RwxXR" withdrew 17,082 SOL (worth approximately $3.19 million at the time) from a major CEX, all used to purchase 22.4 million VINE Tokens. This level of capital inflow greatly boosted market confidence.

[On-chain data explosion: nearly 100,000 holders, volume hits new quarterly high]

Currently, VINE's independent holding address on the decentralized exchange (DEX) is rapidly approaching the 100,000 mark, making it one of the fastest-growing Meme coins in the SOL ecosystem. Its total on-chain trading volume recently surpassed 68 million USD, with a cumulative trading of over 138,000 transactions, reaching a three-month peak in activity, even exceeding the level when Musk first mentioned Vine in January.

On July 27 alone, VINE's trading volume on the DEX was exceptionally active: the total buy orders reached 18.27 million USD, while the total sell orders amounted to 17.52 million USD, indicating a significant net buying phenomenon.

[Price Performance: Monthly rise of 400% leading the SOL ecosystem]

According to BeInCrypto data, as of the time of writing, VINE is priced at about $0.15, with a market capitalization of $150 million. Since the beginning of July, its price has surged over 400%, and there have been no obvious signs of a correction. CoinMarketCap statistics show that VINE is the best-performing token in the SOL ecosystem over the past 7 days.

[Community Expectations: Market Capitalization Aiming for $500 Million? Concentrated Holdings Raise Concerns]

According to the analysis by Gem Detector for users of X platform: "There are nearly 100,000 addresses holding coins on DEX alone, with 40% of the trading volume concentrated in the top 10 wallets (including first and second tier CEX and liquidity pools). The current chart shows very low selling pressure, and a large number of investors have not yet entered positions at low prices. It is expected that the market capitalization will exceed $500 million within a few weeks."

However, the highly concentrated holdings structure of the top 10 wallets controlling 40% of the circulating volume has raised concerns in the market about liquidity and price volatility. If the whales sell off their holdings en masse, it could have a severe impact on the price of VINE.

[Conclusion]

The逆势走强 of VINE Token confirms that the combination of celebrity effects and on-chain data may give rise to a new paradigm of Meme coins. Although the community expectation of a market capitalization of 500 million USD highlights market enthusiasm, the structurally concentrated risk of holdings cannot be ignored. Investors need to closely monitor the movements of Whale wallets and the substantive progress of the Vine platform, rationally assessing the short-term speculative value and long-term sustainability of SOL ecosystem Meme coins. The cryptocurrency market is highly volatile, so please ensure proper risk management.