VINE Surges 115.29% After Elon Musk Teases AI Revival

VINE surged 115.29% in 24 hours, reaching a 6-month high of $0.157 before retreating to $0.151 by press time. The cryptocurrency’s market cap jumped 113% to $155 million, while trading volume spiked 245% to $639 million, reflecting heightened on-chain activity and capital inflows [1]. The rally followed Elon Musk’s cryptic post on X: “We’re bringing back VINE but in AI form,” sparking speculative buying frenzy. Analysts attribute the surge to renewed investor confidence in the project’s AI-driven revival narrative [1].

A major whale intensified the momentum, withdrawing 17,082 Solana (SOL) tokens ($3.19 million) to purchase 22.4 million VINE tokens despite previously losing $125,000 on pump trades. This return to the market signals strong conviction amid volatility [1]. Derivatives data further underscores bullish sentiment: open interest in VINE futures surged 143% to $175 million, while volume climbed 265% to $4.88 billion. The long/short ratio reached 1.019, indicating heightened demand for long positions [1].

Technical indicators highlight overbought conditions. VINE’s RSI climbed to 92, nearing extreme levels, while the directional movement index’s positive line hit 61, reinforcing upward momentum [1]. However, aggressive accumulation has led to negative netflow, with on-chain netflow hitting -$387,000—a 53% drop from -$730,000—suggesting heavy buying pressure from large holders [1].

The sustainability of gains hinges on maintaining speculative demand. If buyers continue to push the price past $0.20, resistance at $0.23 could be targeted. Conversely, a wane in interest could trigger a collapse to $0.065, echoing prior volatility patterns [1]. Analysts caution that memecoins remain high-risk assets, with momentum-driven rallies often vulnerable to sudden reversals.

Source: [1] [VINE soars 115% as Elon Musk teases AI revival: Will the gains sustain?](https://ambcrypto.com/vine-soars-115-as-elon-musk-teases-ai-revival-will-the-gains-sustain/)