Dogwifhat Memecoin’s NFT Photo Fetches an Astonishing $4.3 Million in Memecoin Season
Renowned trader GCR, also known as GiganticRebirth, has made a groundbreaking purchase of the original image behind the Solana-based meme coin dogwifhat (WIF) for an astonishing $4 million. This acquisition has caused a significant surge in WIF prices, as the newly born dogwifhat meme-coin continues to reach new heights.
The original picture of Achi, the dog wearing a pink beanie hat, was put up for auction on the popular crypto auction platform Foundation on March 16, 2024, with an initial bid price of 0.15 ETH.
Today, on March 18th, Rob, the Manager of Foundation, posted about the successful auction on X. He explains, “On November 17, 2018, Achi’s owners captured an adorable image of him wearing a hat. This image went viral and became a meme, ultimately becoming the mascot for the meme coin $wif. Today, Gigantic Rebirth Ventures, operating as PleasrDAO, acquired the image on FND for 1,210.759 ETH (4.3 Mil)!”
Gigantic Rebirth Ventures, under the alias “PleasrDAO,” engaged in an intense bidding battle with Memeland, ultimately securing the image with an offer of 1,210 ETH, equivalent to $4 million! The auction, overseen by crypto investor @cryptopathic, lasted for nearly an hour until GCR emerged as the victorious bidder.
But who exactly is this deep-pocketed successful bidder? Gigantic Rebirth Ventures gained popularity as one of the top traders in 2021–2022, earning substantial profits on the now-closed cryptocurrency exchange FTX. Despite their X account being shut down in April 2023, GCR’s influence is still felt in today’s cryptocurrency community, thanks to their insightful market assessments and accurate forecasts.
Following GCR’s purchase of the original dogwifhat meme image, WIF prices soared by 10% within an hour. This sudden surge suggests a heightened investor interest in the dogwifhat memecoin, even if it was primarily triggered by GCR’s acquisition of the well-known meme.
The auction of the original photo represents a crucial milestone in the development of meme-inspired currencies, highlighting the dynamic relationship between blockchain technology, memes, and digital art, all of which have played a significant role in the creation of the popular memecoin WIF.
Tags: NFT