Memecoin Dogwifhat Photo Sells for $4.3M in NFT Auction

The Solana-based meme coin experienced a 10% uptick following the sale of the NFT featuring the pink-hat-wearing dog, Achi. Over the past weeks, the crypto market has seen significant rallies, with notable gains for Bitcoin (BTC) and several other assets, including meme coins. One standout performer was dogwifhat (WIF), which saw a remarkable 652% surge in a 30-day rally and an overall 1653% increase in less than a year since its launch. This meteoric growth has sparked a flurry of activity around the Solana-based memecoin, including a recent multi-million dollar NFT sale.

On Monday, March 18, the NFT-based photo of Achi, the viral dog behind the dogwifhat memecoin, fetched a staggering 1,210.8 Ethereum in auction, valued at approximately $4.3 million at the time of the sale. The auction was secured by crypto trader Gigantic Rebirth Ventures. This sale followed the listing of Achi's picture, wearing the iconic pink beanie, on NFT marketplace Foundation on Friday, March 15, 2024, with an initial auction price of 0.15 ETH. The listing included a description highlighting how the photo of Achi wearing a small hat became a viral sensation and evolved into the meme known as $wif, capturing the hearts of people around the globe.

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