The iconic photo of Achi, the dog associated with the Dogwifhat meme coin, has been sold as a Non-Fungible Token (NFT) for a staggering $4.3 million. The winning bid of 1,210.8 ETH was made by crypto trader Gigantic Rebirth Ventures (GCR).
The owner of Achi, the dog associated with the Solana-based meme coin Dogwifhat (WIF $3.17), reportedly sold the famous photo of the dog wearing a hat as a Non-Fungible Token (NFT) for a staggering $4.3 million. This significant sale marks a remarkable moment in the world of digital assets.
Auction Details and Winning Bid
The three-day auction for the iconic NFT went live on the NFT marketplace Foundation on Friday. Ultimately, crypto trader Gigantic Rebirth Ventures (@GCR) secured the winning bid of 1,210.8 ETH, as confirmed by the platform.
Last week, an Instagram post from the purported owner’s account announced that the NFT auction was conducted in partnership with Fiesty DAO. The dog, previously known as Chi-Chi, now goes by the name Achi and resides in Korea. The owner mentioned crafting the distinctive pink hat worn in the memorable 2018 photo of the dog.
According to Foundation’s partnerships manager, the photo captured Achi in the charming hat back in November 17, 2018. The image gained viral traction, eventually becoming a meme and the mascot for the meme coin WIF. The announcement of Gigantic Rebirth Ventures’ acquisition of the image on Foundation for 1,210.759 ETH (equivalent to $4.3 million) marks a significant milestone.
Achi’s Memecoin Journey and Market Cap Surge
Achi’s picture transformed into a notable memecoin toward the end of last year, experiencing a surge in popularity to reach a market cap of $3.2 billion. This propelled Dogwifhat to the 43rd position among all cryptocurrencies as it went viral.
Current Trading Status and Growth: Presently, Dogwifhat is trading at $3.18, experiencing a notable increase of over 20% in the past 24 hours and nearly 700% over the past month. These gains coincide with Solana’s metrics surging amid the memecoin frenzy.
Sale Follows Fundraising for Las Vegas Sphere: The sale of Achi’s picture as an NFT comes shortly after crypto holders raised over $650,000 to display the dogwifhat picture on the Las Vegas sphere, showcasing the significant impact of Achi’s image in both the cryptocurrency and mainstream spheres.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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