Iconic Dogwifhat Meme Image Sold as NFT for $4.3 Million
The iconic meme image of the dog behind the Dogwifhat memecoin has been sold as an NFT to crypto investor Gigantic Rebirth Ventures (GCR) for $4.3 million.
Iconic Dogwifhat Meme Image Sold as NFT for $4.3 Million
The owner of Achi, the dog behind the Solana-based Dogwifhat (WIF) memecoin, sold the iconic image of the dog wearing a hat as an NFT for $4.3 million. The three-day auction, which began on March 15, 2024, was conducted online on the NFT platform Foundation in collaboration with Fiesty DAO. The starting price was 0.15 ETH. The auction quickly turned into a bidding war between the anonymous crypto investor GCR and Memeland, a crypto project backed by Binance Labs.
In the end, crypto trader Gigantic Rebirth Ventures (@GCR) won the auction with a bid of 1,210.759 ETH.
🚨SOLD🚨
— Rob | RDToTheMoon (@RDToTheMoon) March 18, 2024
On November 17, 2018, Achi's owners captured him in an endearing hat on camera. It went viral, ultimately becoming a meme and mascot for the meme coin $wif.
Today, that image was collected by Gigantic Rebirth Ventures on FND for 1,210.759 ETH (4.3 Mil)! pic.twitter.com/8jV4szdPg1
The image of Achi gained fame as the Dogwifhat (WIF) memecoin rose in prominence during Solana's resurgence in late 2023. The memecoin quickly gained community support and speculation, becoming the fourth largest memecoin in the world with a market capitalization of $3.2 billion and listings on major exchanges.
Top Memecoins in the Crypto Market, Screenshot from CoinGecko at 08:45 PM on March 18, 2024
GCR is one of the leading traders known for substantial profits on the now-defunct FTX crypto exchange during 2021-2022, attracting a large following on X (formerly Twitter) with market analyses and predictive insights. Despite GCR's identity remaining undisclosed and their departure from X in April 2023, their posts continue to be widely referenced.
The sale occurred just days after the Solana community raised over $650,000 to feature the Dogwifhat logo on the famous Sphere in Las Vegas, USA.
Dogwifhat is currently trading at $3.1, reflecting a more than 20% increase in the past 24 hours and nearly 700% growth over the past month. This surge aligns with the growing memecoin trend across various ecosystems, including Solana and Avalanche.
Dogwifhat (WIF) Price Chart for the Past Month on CoinMarketCap, Screenshot at 08:50 PM on March 18, 2024
