Rally

2024

Bull Market

Elon Musk

The original <a href="https://coingape.com/markets/dogwifhat-price-forecast-how-wifs-40-surge-signals-10-bound-rally/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Dogwifhat meme</a>, depicting Achi the dog donning a pink beanie hat, has been sold for 1,210 Ether (ETH), equivalent to approximately $4 million. A trader named GiganticRebirth (GCR) got the acquisition, which led to a major rally in the values of Dogwifhat (WIF), a meme coin built on the Solana blockchain. This event has been the subject of much attention, constituting another important milestone in the relation between meme culture and cryptocurrency.
<h2 id="strong-dogwifhat-auction-sparks-widespread-interest-strong">Dogwifhat Auction Sparks Widespread Interest</h2>
The sale occurred on Foundation, a website dedicated to crypto art and auctions, where the original piece was listed for an opening price of 0.15 ETH. The auction was marked by a heated bidding war, mostly between GCR, bidding anonymously as “PleasrDAO” and Memeland, another major player in the crypto world.&nbsp;
The winning bid by GCR of 1,210 ETH demonstrated the high price and zeal vested in meme-inspired digital assets by the cryptocurrency fraternity, which forms part of the rising trend.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Sold for 1,210 ETH ($4.3m) to GCR <a href="https://t.co/ptKPc4cON3" rel="noopener noreferrer nofollow">pic.twitter.com/ptKPc4cON3</a>
 — path.eth <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e1.png" alt="🛡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Cryptopathic) <a href="https://twitter.com/Cryptopathic/status/1769669887989833786?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 18, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The Dogwifhat meme, deriving its charm from the image of Achi, captured global attention upon its debut, quickly evolving into a symbol celebrated across the internet. The subsequent auction and participation of GCR greatly increased <a href="https://coingape.com/dogwifhat-to-hit-10-arthur-hayes-predicts-wif-price-rallies-40/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">WIF’s appeal</a>.
<h2 id="strong-gcr-s-market-influence-and-the-wif-surge-strong">GCR’s Market Influence and the WIF Surge</h2>
The participation of GCR in the acquisition has a significant effect on the market performance of WIF. Known for their insightful market analysis and successful predictions, GCR has amassed a substantial following within the crypto community.&nbsp;
Following the acquisition by GCR, the <a href="https://coingape.com/solanas-dogwifhat-wif-is-going-to-las-vegas-in-grand-style/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">WIF coin</a> witnessed a 17% surge in its price within just an hour. This rally was not isolated, as the price continued to climb, marking a 579% increase in the last 30 days. Concurrently, analysts have attributed this surge to GCR’s purchase and a recent post by Elon Musk on X, featuring images of dogs in hats, which further fueled the enthusiasm around Dogwifhat.
During the rally, WIF’s market capitalization and 24-hour trading volume surged by 15.87% and 49.99% respectively to $2,805,344,838 and $1,102,407,126, respectively.
Read Also: <a href="https://coingape.com/gavekal-research-alerts-on-global-liquidity-drain-in-crypto-bull-market-bloomberg/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Gavekal Research Alerts on Global Liquidity Drain in Crypto Bull Market</a>
The post <a href="https://coingape.com/dogwifhat-meme-sold-for-4m-to-gcr-wif-prices-rally/" rel="noopener noreferrer nofollow">Dogwifhat Meme Sold for $4M to GCR, WIF Prices Rally</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Dogwifhat Meme Sold for $4M to GCR, WIF Prices Rally

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