usually Dog We Fat A beloved meme depicting Achi, a dog wearing a pink beanie hat, recently made headlines in the cryptocurrency world after it was sold for a whopping 1,210 Ether (ETH), equivalent to about $4 million.
This groundbreaking sale, led by trader GiganticRebirth (GCR), caused a significant surge in the value of Dogwifhat (WIF), a meme coin built on the Solana blockchain. The event highlights the growing intersection between meme culture and cryptocurrency, as well as the real value attached to digital assets inspired by internet trends.
Open Auction: Battle of Dogwifhat
The sale of the Dogwifhat meme took place on Foundation, a platform dedicated to cryptocurrency art and auctions, and garnered widespread attention. The auction saw intense bidding activity, especially among GCRs, with anonymous bids. “Pleasure DAO,” There is also Memeland, another prominent player in the cryptocurrency space.
Starting with an opening price of 0.15 ETH, the bidding war quickly escalated to GCR’s winning bid of 1,210 ETH. This competitive auction demonstrated intense interest and high valuations for the meme-inspired digital asset within the cryptocurrency community.
GCR’s acquisition of the Dogwifhat meme not only sparked interest in the meme itself, but also significantly increased the appeal of its related meme coin, WIF. Known for its astute market analysis and influential presence in the cryptocurrency space, GCR has had a significant influence on WIF’s market performance.
Following the acquisition, WIF saw its price surge by 17% in just one hour, signaling a broader rise in the value of meme coins. This surge continued, with the price of WIF surging 579% over the past 30 days, fueled by purchases in GCR and amplified by recent social media posts. Elon Musk It features dogs wearing hats that further fuels the passion for Dogwifhat.
During this rally, WIF’s market capitalization and 24-hour trading volume showed a significant increase, increasing by 15.87% and 49.99%, respectively. These indicators highlight the enormous influence that major market players such as GCR and influential figures such as Elon Musk have on the cryptocurrency market, especially meme-based assets such as WIF.