The owner of "Achi," the dog behind the popular Solana-based meme coin Dogwifhat, sold the iconic photo of the dog wearing a hat as a non-fungible token (NFT) for $4.3 million. The three-day auction, launched on the NFT Foundation marketplace, saw crypto trader Gigantic Rebirth Ventures (@GCR) emerge as the winner with a bid of 1,210.8 ETH.
NFT of Iconic Solana-Based Memecoin Dog Hat Image Sells for $4.3 Million
On Friday, the alleged owner of Achi, the dog featured in the viral "dogwifhat" memecoin, sold the iconic image of the canine adorned with a hat as a non-fungible token (NFT) for a staggering $4.3 million. The three-day auction, hosted on the NFT Foundation marketplace, saw crypto trader Gigantic Rebirth Ventures (@GCR) emerge as the highest bidder, placing an offer of 1,210.8 ETH (approximately $4.3 million depending on the platform).
The auction's launch was preceded by an announcement on the alleged owner's Instagram account, indicating a partnership with Fiesty DAO. The dog, originally named Chi-Chi, was renamed Achi and currently resides in Korea. According to the purported owner, the distinctive pink hat featured in the iconic photo, taken in 2018, was handmade by him.
"On November 17, 2018, Achi's owners captured a heartwarming image of him wearing an adorable hat. The image rapidly gained widespread popularity, eventually evolving into a meme and mascot for the Foundation's partnership manager, job on," the owner explained.
Achi's image became synonymous with the surge in memecoins towards the end of 2021, with the subsequent launch of "dogwifhat" propelling it to a market capitalization of approximately $3.2 billion at its peak. Currently, the cryptocurrency ranks 43rd among all digital assets.
At the time of this report, Dogwifhat is trading at $3.18, reflecting a notable increase of over 20% in the past 24 hours and a remarkable surge of nearly 700% in the past month. This growth coincides with a broader uptick in Solana's performance amid the cryptocurrency market's memecoin frenzy.
The recent sale follows the successful fundraising campaign that garnered over $650,000 from crypto enthusiasts, paving the way for the display of Dogwifhat's image on the iconic Las Vegas Sphere.
It is important to note that this news article solely conveys the information provided by the respective sources and does not constitute financial advice. Individuals seeking investment guidance are strongly encouraged to consult with qualified professionals.
