The suspected owner of a dog linked to the memecoin Dog hat auctions off an iconic image as a NFT.
Apparently, the alleged owner of this famous dog, known for its distinctive hat, has decided to sell an NFT of the image.
The dog was the catalyst for the creation of the memecoin called dogwifhat, which currently ranks 49th in market capitalization. Let’s see all the details below.
The iconic Dogwifhat dog: from memecoin to NFT sale
As expected, the alleged owner of the dog linked to the memecoin Dogwifhat is currently auctioning off a photo of it as a NFT.
The auction started three days ago and the bidding for the NFT is currently up 6.9ETH, equivalent to approximately $25,000, as reported on the auction page on Foundation.
According to a post published on the alleged owner’s Instagram account, this initiative is being carried out in collaboration with Fiery DAO.
In a previous post the dog was known as Chichi, but now goes by the name Achi and lives in Korea. The alleged owner stated that he created the signature pink hat worn in the dog’s famous photo.
However, the person running the Instagram account where the NFT sale was announced claims to be the dog’s legitimate owner has provided no tangible evidence different from other images of a similar dog.
It also promised to present further evidence via a direct message on Instagram. Recall that the image of the dog inspired the creation of the memecoin late last year.
Dogwifhat became popular in late February and reached a market capitalization of $2.8 billion, ranking 49th among all cryptocurrencies.
This comes just days after the cryptocurrency community started talking about it $650,000 to project the image of dogwifhat onto the Las Vegas sphere.
Dogwifhat (WIF): the new star of meme coins in the crypto market
Dogwifhat (WIF) is emerging as the meme currency of the moment, with surprising intraday performance. The 8% gain in Dogecoin in the past 24 hours marks a step towards the threshold of $0.2.
This meme coin is based on Solana has risen among the largest cryptocurrencies in terms of market capitalization, posting an impressive 747% increase last month.
Currently, WIF is trading around $3.26, just below the all-time high of $3.36 reached earlier in the day.
Attention to dogwifhat has increased following a major marketing campaign that will see the WIF light up the atmosphere in Las Vegas for a week.
On Wednesday, the crowdfunding initiative to exhibit the dog mascot with the hat in Las Vegas reached its goal and raised more than $690,000. The reaction to this development has driven up the price of WIF.
Today, by crossing the $3 threshold, the price of WIF could continue to rise given the broad spike currently underway in the meme coin market.
It’s no coincidence that tokens like Pepe, Bonk, Myro and Mog Coin have made significant gains in the past 24 hours.
Analyst forecasts for WIF’s price suggest that the bullish trend may be just beginning.
Wednesday, while the price of dogwifhat was below $3, a cryptocurrency investor said Arthur Hayes speculated that the meme coin could reach up to 10 dollars.
Even Raoul Palfounder and CEO of Real Vision, has observed the astonishing gains of WIF and stated that his portfolio contains 2% in dogwifhat.
