Memecoin Season: Dogwifhat Meme Sold for $4 Million, WIF Price Up 10%

The crypto world has seen a surge in activity! The newly minted dogwifhat meme-coin has skyrocketed to unprecedented heights. Behind this surge lies a significant development: GiganticRebirth, a prominent trader known as GCR, has just clinched the original image that birthed the Solana-based meme coin, dogwifhat (WIF), for a jaw-dropping $4 million.

This acquisition has set off a remarkable uptick in WIF prices, shaking the markets.

GCR’s Acquisition

On March 16th, 2024, the stage was set for a historic event as the popular crypto auction platform, Foundation, set Achi’s iconic image – the dog sporting a cute pink beanie hat – up for bidding. The starting bid, pegged at 0.15 ETH, heralded the commencement of an electrifying auction.

The suspense came to a head on March 18th, when Rob, Foundation’s Manager, unveiled the outcome of the auction on X.

“On November 17, 2018, Achi’s owners captured him in an endearing hat on camera. It went viral, becoming a meme and mascot for the meme coin $wif. Today, that image was collected by Gigantic Rebirth Ventures on FND for 1,210.759 ETH (4.3 Mil)!”

The Mysterious Trader

GiganticRebirth Ventures, operating under the alias “PleasrDAO,” engaged in a crazy bidding battle with Memeland, ultimately securing the image with an offer of 1,210 ETH, amounting to $4 million! The auction, overseen by crypto investor @cryptopathic, lasted nearly an hour before GCR emerged as the winning bidder.

But do you know who is this successful bidder with big pockets?

Gigantic Rebirth Ventures catapulted into the limelight during 2021–2022, reaping substantial profits on the now-defunct FTX cryptocurrency exchange. Despite their X account meeting its demise in April 2023, GCR’s indelible mark on the cryptocurrency community persists, thanks to their market insights and spot-on predictions.

Effect on WIF Prices

Within hours of GCR’s monumental acquisition of the original dogwifhat meme image, WIF prices surged by a notable 10%. This sudden uptick hints at heightened investor interest in the dogwifhat memecoin, spurred on by GCR’s pivotal move.

The adorable picture of Achi with a hat didn’t just make people smile – it also inspired the creation of WIF, a memecoin that people love. The auction of this original photo marks a big moment in the world of meme-based currency, showing how memes, digital art, and blockchain technology all come together.

In this new era, it seems that memes are more than just jokes – they’re valuable assets.