Trader Nets $4.5 Million from VINE After 70% Dip

Following a series of unsuccessful trades, a trader has gained over $4.5 million in unrealized profits from the Vine (VINE) token. This was highlighted by analysts at Lookonchain.

From a loss of $270K(-70%) to a profit of over $4.5M, this guy made a big bet on $VINE and won!

This guy spent 20 $SOL to buy 1M $VINE and sold it for 23 $SOL.

After he sold, $VINE skyrocketed, and he missed the rally.

He then bought back into $VINE and kept adding to his… pic.twitter.com/poUNvQ4xiC

— Lookonchain (@lookonchain) January 23, 2025

Initially, the user spent 20 SOL to purchase 1 million VINE, but shortly before the price rally, he sold it for 23 SOL.

After waiting for another dip, he bought the coin again and continued to increase his position. In total, the trader acquired 26.6 million VINE for 1463 SOL ($374,000). At one point, the value of his assets dropped by $270,000 (-70%).

However, he continued to hold, and currently, his balance is equivalent to nearly $5 million. The unrealized profit has exceeded $4.5 million.

The Vine coin was created by Rus Yusupov, co-founder of the mobile application of the same name, which appeared in 2012. That same year, it was acquired by Twitter. However, the service could not compete with Instagram, Snapchat, and YouTube and was closed for new video uploads in October 2016.

Remembering all the fun we had building vine — Let’s relive the magic and DO IT FOR THE #VINECOIN

CA: 6AJcP7wuLwmRYLBNbi825wgguaPsWzPBEHcHndpRpump

— Rus (@rus) January 23, 2025

In his X account, Yusupov announced the locking of developer-owned tokens until April 20 and the extension of this period “until Vine returns.”

All $VINE dev tokens are locked until 4/20 at 4:20pm.

The re-locks will continue until Vine comes back.

? pic.twitter.com/EfGGWw3Svn

— Rus (@rus) January 23, 2025

Elon Musk also commented that he is considering the possibility of bringing back Vine.

BREAKING: Elon Musk says X is looking into bringing back Vine. pic.twitter.com/dISGcy5D3Y

— Sawyer Merritt (@SawyerMerritt) January 19, 2025

At the time of writing, Vine’s market capitalization stands at $236 million, with the token trading at $0.2351, according to DEXscreener.

Earlier, ForkLog reported that a holder of the AI token Real AIOS Foundation (AIOS) turned a profit after a potential loss of $570,000.