Solana Meme Coin Dogwifhat Gains Double Digits Amid Las Vegas Sphere Speculation

Solana meme coin Dogwifhat (WIF) has jumped double digits over the previous 24 hours, after the token’s official X account confirmed, retracted, after which solely hinted that the canine would lastly seem on the Las Vegas Sphere.

This comes greater than 9 months after 5 organizers raised $700,000 to place Dogwifhat on the Sphere. Since then, the group has obtained huge quantities of criticism—most of it leveled at influencer Ansem due to his massive following—with many demanding the funds be returned to donors. Many thought that the advert was by no means going to occur.

However on Tuesday night, the Dogwifhat X account posted “Formally confirmed. Viva hat vegas,” accompanied by a photograph of its mascot carrying the Sphere as a hat and holding a cellphone with “Q1 2025” exhibiting on its display, probably hinting at when it should happen. This was shortly deleted and reposted with out the “formally confirmed” tag line.

“Dates as quickly as we’re allowed to share,” a Dogwifhat reply stated. “Hat stays on.”

Because of this, WIF spiked 34.7% to $1.34 over the approaching 4 hours, in accordance with CoinGecko information. That stated, WIF continues to be down 6.2% over the previous seven days and 72% from its all-time excessive achieved in March 2024, the identical month the Sphere funds have been raised.

Shortly after the X publish, $697,811 left the Wif Sphere multi-sig pockets to a brand new, unnamed pockets. These funds nonetheless sit within the pockets. Onchain information exhibits a small quantity of USDC was despatched to a Coinbase pockets from the brand new unnamed pockets an hour earlier than the big transaction.

This comes only a matter of days after criticism across the Sphere Wif Hat marketing campaign intensified, as a result of $100 being moved out of the unique multi-sig fundraising pockets. Final yr greater than $13,000 was transferred to the multi-sig pockets through a number of transactions, all to the identical pockets. This pockets seems to have later used the funds to gamble on meme cash.

In response, Ansem claimed the bigger motion of funds was to pay those that arrange the web site, designed and made hats as merch, and the newest transaction was a “take a look at.” Nonetheless there was a separate take a look at transaction of $4.20, despatched to a distinct pockets forward of the $697,000 transaction.

For now, the Dogwifhat staff insists that it’s assured the Sphere commercial goes to occur—however not assured sufficient to say it’s “formally confirmed.”

Edited by Stacy Elliott.