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$VINE Sees Bullish Sentiment Amid Rumors of Vine’s Relaunch by xAI
A remarkable deal took place on April 1, when a wallet received an inflow of $86.96K. This particular wallet now holds 4.3 million $VINE tokens, which are currently worth about $177K. The inflow on April 1 was slightly less than what we saw on March 31, but the fact that we had another inflow on top of a pretty full wallet indicates that $VINE seems to be very much in demand right now.
The ongoing rumors surrounding the potential relaunch of Vine, as owned by xAI, seem to be the primary driving force behind this newfound demand. With that in mind, the fact that capital is flowing into the $VINE token appears to be a pretty clear sign that anyone investing in the token is confident that its value is likely to increase sooner rather than later.
Despite market volatility, sustained buying pressure has been observed surrounding $VINE, which is one of the most notable aspects of recent activity tied to the token. This is noteworthy because we have seen a lot of price swings throughout the current crypto market, where even broader markets can experience sudden and drastic changes. Nevertheless, $VINE has continued to see positive net flows and, by extension, consistent and reliable buying.
It’s crucial to remember that the market is a fickle beast, and the present bullish sentiment could turn around just as easily as it came. Ultimately, $VINE is quite likely to follow the outcome of Vine as a whole. If the relaunch is a flop or does not hook users, then I expect $VINE might go back to doing exactly what it has done since Thanksgiving.
On the other hand, the current trend indicates that investors are eager to wager on the chances of xAI revamping Vine and giving it an unusual value differentiator in the overcrowded social media space.
Source: https://nulltx.com/vine-sees-bullish-sentiment-amid-rumors-of-vines-relaunch-by-xai/
