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When Instagram debuted its new video feature last week it was trending worldwide that Instagram put Vine to shame.  Is it true?

According to a new report, via Topsy’s free analytical tool, it reflects that Vine sharing sharply dropped last week after Instagram’s video debut and it’s continuing to go downhill…

From the report:

“Vine sharing went into a nosedive on June 20, the day of Instagram’s announcement. Topsy shows there were almost 2.5 million Vine links shared on June 19, then a little more than 1.5 million on the 20th — a drop of almost 40 percent in one day.

Vine sharing on Twitter has continued to drop over the week since Instagram video rolled out. Yesterday saw less than 900,000 Vine links shared on Twitter — that’s about a 70 percent drop from the nearly three million links that were shared on June 15th.”

Prior to Instagram’s launch, Vine teased an upcoming update to its app, saying that we would see “some exciting new parts of Vine” over the next few weeks. Will they still follow through with their plan?

Where do you stand on this whole Vine/Instagram thing? Which one do you prefer?

[Al Lindstrom]