The VINE token, a meme coin inspired by the once-popular short video platform Vine, is attracting liquidity and investor attention at the end of July.
Most notably, Elon Musk, CEO of Tesla and SpaceX, recently mentioned VINE. He hinted at the possibility of reviving Vine with advanced AI features.
VINE Holder Count Surges After Elon Musk’s Mention
To provide context, on January 18, 2025, Elon Musk first stated that he was “considering” bringing Vine back. Following that, Rus Yusupov, the CEO of Vine, launched a meme coin.
Typically, meme coins experience a quick price drop and panic selling after receiving media attention — a phenomenon often referred to as the “Musk effect,” which has played out repeatedly with meme tokens this year.
However, VINE appears to be an exception. Since Musk hinted at reviving Vine on July 24, this meme token has continued to record impressive on-chain metrics throughout the following week.
A notable example involves whale wallet 8RwxXR, as reported by Lookonchain on X. On the morning of July 28, 2025, this wallet withdrew 17,082 SOL (worth roughly $3.19 million) from Binance to purchase 22.4 million VINE tokens.
Whale Accumulation Boosts Market Excitement
Whale activity is currently one of the key drivers of VINE’s growing popularity. On decentralized exchanges (DEXs), VINE is approaching 100,000 unique holders. This milestone reflects the token’s rapid rise in popularity throughout July.
Additionally, VINE’s on-chain trading volume recently surpassed $68 million with over 138,000 transactions. This marks the highest activity in the past three months — even more than during the time Elon Musk first mentioned Vine.
On July 27 alone, VINE’s trading volume on DEXs reached a three-month high, with $18.27 million in buy orders and $17.52 million in sell orders.
At the time of writing, VINE is trading around $0.15 with a market cap of approximately $150 million, according to BeInCrypto. Its price has surged over 400% since early July and shows no clear signs of correction yet.
According to CoinMarketCap, VINE is currently the best-performing token in the Solana ecosystem over the past seven days.
As a result, some investors believe VINE’s rally is far from over.
“It’s approaching 100,000 holders on DEX only, and 40% of the supply is distributed among the top 10 wallets (including Tier 1–2 CEXs and LP). Not many people have taken advantage of the cheap entry, and there is also low selling pressure on the chart at this moment. Expecting $500 million+ market cap in the coming weeks,” Gem Detector, a user on X, predicted.
However, the concentration of supply in a small number of large wallets raises concerns about liquidity and future price volatility.
With 40% of the circulating supply held by the top 10 wallets, any sudden moves — such as large-scale sell-offs — by these whales could significantly impact VINE’s price.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source link
Nhat Hoang
https://beincrypto.com/whales-accumulate-vine-holders-100000/
2025-07-28 08:03:49
