What Elons purchase of Vine may mean for his social media and crypto empire

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 Musks 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 Vines 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 Musks 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.

Price chart for DOGE in the past few hours, August 4, 2025 | Source: crypto.news

In fact, other tokens linked to the AI-generated created by Musks 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 apps content.