What Elon’s purchase of Vine may mean for his social media and crypto empire

The VINE coin saw a recent surge following Elon Musk’s prolific activities to revive old content using Grok Imagine. The token may soon join the lineup of tokens linked to Musk and generate even more.

The surge in VINE’s value can be attributed to Elon Musk’s recent discovery of old content from the social media app that were believed to be lost to time. He declared in his latest post on August 3 that he is working on reviving the content so users can post them openly.

“Btw, we recently found the Vine video archive (thought it had been deleted) and are working on restoring user access, so you can post them if you want,” said Musk.

The move comes on the heels of Musk and others attempting to create a so-called ‘super-app’ for the US market, one modeled on WeChat that includes, among other features, payments and processing.

In the past few days, Musk has been posting memes and still images turned into animated gifs through X’s very own AI engine, Grok Imagine. However, these posts have not mentioned Vine explicitly. That is, until recently when Musk reaffirmed plans to revive the app.

Vine is often regarded by social media users as the precursor to TikTok and became one of the first meme generating viral app for short six-second videos. It provided a wide platform for content creators like Logan Paul, King Bach and Drew Gooden which found their start on the app. However, it was closed down in 2017 by its then-parent company Twitter as it struggled to compete with other emerging social media.

As Musk has gained control of X, formerly known as Twitter, many hope that the billionaire will bring back the platform.

What VINE’s revival could mean for Musk’s grip on crypto

Rumors of Musk reviving the app sparked as early as mid-January this year when Musk responded to an X user’s question about bringing back Vine after TikTok got banned in the United States. At the time, Musk simply said that his team was “looking into it.”

Thanks to Musk’s posts about reviving Vine, the token managed to rise by 8.4% in the past 24 hours. On August 3, it reached a peak price of $0.0834.

At press time, the token is standing at $0.707 after rising more than 8% in the past 24 hours. This sudden rise is a welcome surprise compared to how the token has been spiraling downwards in the past week. The past seven days has seen VINE in a slump, falling as much as 53%.

As of August 4, the token’s price lies only 84.8% below its all-time high, which sits at $0.4699.

What is the VINE token?

The Vine coin was launched back in January 2025, shortly after Musk announced his team was “working on” bringing the app back to life. It was launched by VINE co-founder Rus Yusupov launched the Solana (SOL)-based meme coin with the same name. It was later listed on major exchanges including Bitget, OKX, and Binance Futures.

Although the token has gained popularity, it is not directly connected to Musk’s current efforts to revive the social media app.

Vine and DOGE?

Following the social media app’s rise in the crypto market, a different token has joined in the upward trend. Musk’s once favorite cryptocurrency, the Dogecoin (DOGE) has also enjoyed a slight boost in value after Musk reposted a number of videos from Grok Imagine and about Vine’s revival.

At press time, DOGE has jumped 3.15%. It is currently trading hands at $0.20 in the past 24 hours. Its market cap stands at $30.3 billion, after a 3.14% increase.

The last time Dogecoin flew into a high rally was in January. At the time, many things were happening on Elon Musk’s X.

In January, CEO of X Lina Yaccarino hinted that the social media platform wants to create its own financial token, X Money. This move set the stage for DOGE to rally from early January. Not only that, rumors of a Vine revival on January 19 also helped catapult Dogecoin to an all-time high on January 26.

In fact, other tokens linked to the AI-generated created by Musk’s X, such as XAI and GROK have risen by 6.15% to 7% respectively.

Musk’s ties to the old social media app is poised to strengthen overtime as more traders continue to cheer for the revival of a long-dead app. This could mean that the tech mogul’s influence on the crypto market may extend beyond just DOGE and copy-cat Grok tokens.

The Vine meme coin, as well as other meme coins that may spawn from Musk’s rumored revival of the app, could further bring about an era of altcoin movement influenced by Musk’s simple moves through his social media presence and continued promotion of the app’s content.