Dogwifhat Meme Sells for $4M, WIF Prices Surge

GiganticRebirth made headlines by purchasing the original Dogwifhat meme for 1,210 Ether, equivalent to $4M on the Solana blockchain.

An amount of 1,210 Ether (ETH), roughly equivalent to $4 million, was paid for the original Dogwifhat meme, which depicted Achi, the dog, wearing a pink beanie hat.

A trader named GiganticRebirth (GCR) completed the acquisition, significantly increasing the value of Dogwifhat (WIF). The Solana blockchain served as the foundation for this meme coin.

This occurrence has garnered a great deal of attention and it represents yet another significant milestone in the relationship between meme culture and cryptocurrencies.

Dogwifhat Auction Sparks Widespread Interest

Foundation, a website specializing in crypto art and auctions, published the original sculpture with an opening price of 0.15 ETH. The sale took place at the foundation.

During the auction, there was a heated bidding war that primarily took place between GCR, who was bidding anonymously under the name “PleasrDAO,” and Memeland, who is another important figure in the cryptocurrency sector.

GCR’s winning bid of 1,210 ETH demonstrated the high cost and fervor of the cryptocurrency community for meme-inspired digital assets, a key element of the expanding trend.

After its initial introduction, the Dogwifhat meme, named after the image of Achi, quickly gained widespread adoration on the internet. Almost immediately after its introduction, its popularity skyrocketed.

The subsequent auction and the participation of GCR brought about a significant boost to WIF’s appeal. GCR’s involvement in the acquisition significantly impacts WIF’s success in the market.

GCR has garnered a considerable following within the cryptocurrency world because of the organization’s reputation for providing intelligent market research and accurate forecasts.

After the acquisition by GCR, the price of the WIF coin increased by 17% in just one hour, this occurred immediately after the transaction. This surge was not a unique occurrence, instead, the price continued to rise, resulting in a 579% gain over the previous 30 days.

Concurrently, observers have ascribed this spike to the purchase of GCR and a recent post by Elon Musk on X that featured photographs of dogs wearing hats.

This post further stoked the fervor surrounding Dogwifhat. As a result of the rise, the market capitalization of WIF increased by 15.87%, and the 24-hour trading volume increased by 49.99%, respectively, reaching $2,805,344,838 and $1,102,407,126.