The memecoin Dogwifhat’s bold initiative to buy advertising space on the giant screen of the Las Vegas Sphere has led to an impressive $700,000 raised in various cryptocurrencies. The beanie-capped dog, Wif’s emblem, will therefore be displayed for a week on this giant sphere.
Solana’s memecoin raises $700,000
The Dogwifhat memecoin was created from a meme taken from a profile photo posted by a professional Fortnite player in 2019. Since then, it has spread widely, posting over $3.3 billion in market capitalization.
Powered by the Solana blockchain, WIF aimed to raise $650,000 to enable the community to buy advertising space on the Las Vegas Sphere, a giant 112-meter-high, 157-meter-wide screen shaped like a sphere.
The “Wif on sphere” campaign, launched on Saturday, March 9, 2024, not only met this goal, but far exceeded it, raising over $700,000 in donations, mostly in stablecoin USDC. This was made possible by widespread enthusiasm within the community, as well as the promotion of the campaign by several key players in the Solana ecosystem, including the Phantom wallet.
The project also significantly boosted the value of the Dogwifhat token (WIF), which increased by over 90% in 48 hours.
Following the news, the WIF token reached a new all-time high of $3.45, now placing it in 4th place in the memecoin market capitalization rankings, just behind Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE).
