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<p class="is-style-lead">The photo inspiration for Solana’s viral memecoin Dogwifhat was bought as an NFT by the same trader who won a $10 million bet against Terraform founder Do Kwon.</p> 
<p>An NFT picture of the infamous Dogwifhat (<a href="https://crypto.news/price/dogwifhat/" target="_blank" rel="noreferrer noopener">WIF</a>) canine sold for 1,210 Ether (ETH) worth $4.3 million after a three-day auction sprint on the digital collectible marketplace <a href="https://x.com/RDToTheMoon/status/1769667545345188215?s=20" target="_blank" rel="noreferrer noopener">Foundation</a>. The photo spotted Achi, a dog in a hat that inspired the popular Solana-based memecoin that peaked at a more than $3 billion market cap this month.&nbsp;</p> 
<p>Renowned cryptocurrency trader Gigantic Rebirth Ventures, commonly known as GCR, made the acquisition.&nbsp; GCR is famous for making a $10 million wager with former Terraform Labs CEO Do Kwon over Luna’s future decline. </p> 
<p>The trader won the bet while Terra’s token collapsed in a $60 billion implosion, and Kwon is currently battling <a href="https://crypto.news/what-is-happening-around-terraform-labs-and-do-kwon-now/" target="_blank" rel="noreferrer noopener">extradition</a> from a Balkan prison cell.</p> 
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   <p lang="en" dir="ltr">🚨SOLD🚨<br><br>On November 17, 2018, Achi's owners captured him in an endearing hat on camera. It went viral, ultimately becoming a meme and mascot for the meme coin <a href="https://twitter.com/search?q=%24wif&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$wif</a>. <br><br>Today, that image was collected by Gigantic Rebirth Ventures on FND for 1,210.759 ETH (4.3 Mil)! <a href="https://t.co/8jV4szdPg1" target="_blank">pic.twitter.com/8jV4szdPg1</a></p>— Rob | Foundation (@RDToTheMoon) <a href="https://twitter.com/RDToTheMoon/status/1769667545345188215?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 18, 2024</a>
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<p> You might also like: <a href="https://crypto.news/martin-shkreli-questions-dogwifhats-value-explores-solana-meme-coins/"> Martin Shkreli questions Dogwifhat’s value, explores Solana meme coins </a> </p> 
<h2 class="wp-block-heading" id="dogwifhat-memecoin-ascent">Dogwifhat memecoin ascent </h2> 
<p>Achi’s NFT <a href="https://crypto.news/dogwifhat-meme-coin-nft/" target="_blank" rel="noreferrer noopener">auction</a> occurred after its supposed owner announced the move in collaboration with Fiesty DAO. The post was shared on Instagram and claimed the photo featuring Achi in a homemade pink hat was shot in 2018.</p> 
<p>Dogwifhat debuted late last year during a Solana memecoin frenzy, resurging interest in on-chain assets. On March 18, the memecoin ranked 48 among all cryptocurrencies and even briefly upstaged Pepe (<a href="https://crypto.news/price/pepe/" target="_blank" rel="noreferrer noopener">PEPE</a>) in market cap.&nbsp;</p> 
<p>According to CoinGecko, WIF increased 13% in 24 hours and at a price around $2.80. The NFT auction closed shortly after community members <a href="https://wif-sphere.vercel.app/" target="_blank" rel="noreferrer noopener">raised</a> over $650,000 in crypto to showcase the Dogwifhat meme on the Las Vegas sphere.</p> 
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  Crypto holders fundraise for WIF Las Vegas display | Source: wif on sphere
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<p> Read more: <a href="https://crypto.news/solana-record-new-users-dogwifhat/"> Solana sets new record: 816k new users join amid Dogwifhat’s 400% price rally </a> </p>

Dogwifhat original meme photo sold for $4.3m in ETH

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