Iconic Dogwifhat NFT Sells for $4.3 Million in Three-Day Auction on Foundation
Crytpo News – The captivating image of Achi, the dog who became the face of the Solana-based meme cryptocurrency Dogwifhat, has fetched a staggering $4.3 million as a non-fungible token (NFT) in a three-day auction on the NFT marketplace Foundation.
The auction, which commenced on Friday, witnessed crypto trader Gigantic Rebirth Ventures (@GCR) emerging as the victor with a winning bid of 1,210.8 ETH, as confirmed by the platform.
Just last week, an Instagram post from the purported owner announced the commencement of the NFT auction in collaboration with Fiesty DAO. Formerly known as Chi-Chi, the dog now bears the name Achi and resides in Korea. The owner disclosed their role in crafting the distinctive pink hat worn by Achi in the famed 2018 photograph.
“On November 17, 2018, Achi’s owners captured him donning an endearing hat on camera. This moment swiftly went viral, cementing Achi’s status as both a meme and the mascot for the meme coin wif,” stated Foundation’s partnerships manager on X. “Today, that very image has been acquired by Gigantic Rebirth Ventures on FND for 1,210.759 ETH, equivalent to $4.3 million!”
Achi’s image played a pivotal role in the meteoric rise of the Dogwifhat memecoin towards the end of the previous year, propelling its market cap to an impressive $3.2 billion and securing its position as the 43rd largest cryptocurrency by market capitalization.
Presently, Dogwifhat is trading at $3.18, as reported by The Block’s price page. Over the past 24 hours, Dogwifhat has experienced a notable surge of over 20%, and its value has skyrocketed by nearly 700% over the past month, riding the wave of memecoin fervor amidst Solana‘s soaring metrics.
This landmark sale follows closely on the heels of another remarkable event, wherein cryptocurrency enthusiasts raised over $650,000 to display the iconic dogwifhat picture on the Las Vegas sphere, further cementing Achi’s place in the crypto zeitgeist.
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