dogwifhat Supposed Owner Auctions Memecoin’s Dog Photo as NFT
Release: 2024/03/16 01:19 Reading: 210
The iconic dog featured in the popular dogwifhat (WIF) memecoin is now the subject of an NFT auction, with the purported owner selling a photograph of her as a digital collectible.
The auction, hosted on the Foundation platform, is set to run for three days, and bidding has already reached 6.9 ETH, equivalent to $25,000 at the current exchange rate. The owner announced the auction on her Instagram account, revealing that it is being conducted in partnership with Fiesty DAO.
Uncertainty around Dog Behind dogwifhat Memecoin Inspiration
Previously known as Chi-Chi, the dog is now named Achi and resides in Korea, according to the owner’s Instagram post. The owner claims to have made the iconic pink hat worn by the dog in the famous photograph.
While the Instagram account claims to belong to the dog’s owner, no concrete proof has been provided beyond additional photos of a similar-looking dog. The individual managing the Instagram profile where the NFT announcement was posted asserts ownership of the dog but has yet to furnish substantial evidence apart from additional images featuring a dog resembling the one in question.
dogwifhat Popularity Tipped to Challenge Pepe
Towards the end of last year, the dog’s image transformed into a memecoin. dogwifhat surged in popularity in late February and has swiftly grown to a market capitalization of $2.8 billion, currently positioned as the 49th largest cryptocurrency.
When the meme dogwifhat was newly launched, it was greeted with investors’ excitement and many wondered if it would surpass the dominance of Pepe in the crypto space.
dogwifhat Performance
dogwifhat, Solana’s (SOL) second-largest memecoin following Bonk (BONK), unquestionably holds a special place among on-chain degens. Whenever there’s a discussion about which cryptocurrencies to invest in, WIF consistently finds a mention. Analysts speculate whether $WIF can be 100X in 2024 given that dogwifhat has already 100Xed previously.
Last month, WIF regained its upward trajectory after weeks of decline which had caused many investors to exit the project. Just days before this auction, crypto enthusiasts rallied to gather more than $650,000 to display the dogwifhat image on the Las Vegas sphere.
The post dogwifhat Supposed Owner Auctions Memecoin’s Dog Photo as NFT appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.
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