Coinspeaker
Fundraising Success Propels Dogwifhat to Fourth Largest Meme Coin
Popular Solana (SOL) blockchain’s meme coin dogwifhat (WIF) is on its way to the Las Vegas Sphere. This follows after community members successfully raised the $650,000 target it set out to float to get to the historic Sphere, Vegas’ dome-shaped entertainment venue. Impressively, it took less than four days to raise the funds. However, what’s more impressive is that the feat may have now positioned dogwifhat as the fourth-largest meme coin.
Mixed Reactions Trail Fundraising Campaign
As Coinspeaker earlier reported, dogwifhat planned to raise $650,000. However, as of Wednesday, the website showed that contributions had surpassed $690,000. The update was later confirmed by Ansem, one of the five leading figures of the fundraising campaign. His X post read in part:
“It’s time. We’re putting dogwifhat on the Vegas Sphere.”
The feat has been well received by members of the crypto community. However, it might also be worth noting that not all observers are thrilled about the achievement that will see dogwifhat make it to Vegas. Some have pointed out that the entire act is vain and is not unusual around market tops.
Recall that during the last bull run, the now-defunct FTX exchange similarly went all in on ‘optics’ by putting its name on sports arenas. Whether that was merely for the thrill of it or it was focused on advertisement, the reality is that the company has now collapsed.
Nonetheless, other companies like Crypto.com made the same moves and are still operational today.
Dogwifhat Shoots in Popularity as WIF Gains Massively
Following the successful fundraising, dogwifhat has seen a meteoric rise in its popularity and value. It quickly climbed the ranks to become the fourth-largest meme coin by market capitalization.
As of publication, its WIF token has also gained over 40% in 24 hours. That is according to CoinMarketCap data. Interestingly, WIF is seeing such massive gains against the rest of the broader crypto market. For comparison, the flagship cryptocurrency Bitcoin (BTC) is down 0.16% during the same period. Notably, WIF currently stands as the 52nd most valuable token among all cryptocurrencies.
With momentum on its side and a growing community rallying behind it, dogwifhat looks set to embark on an exciting journey towards further growth and development. As it continues to solidify its position as a leading meme coin, expectations are rife to see what milestones dogwifhat will achieve next.
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Fundraising Success Propels Dogwifhat to Fourth Largest Meme Coin