Original meme photo of Dog with hat sells for $4.3 million in ETH.
GCR, a well-known cryptocurrency trader, has purchased the NFT picture of the famous Dogwifhat (WIF) dog for 1,210 Ether (ETH), equivalent to $4.3 million. The auction for the photo, which features Achi, a dog wearing a hat that inspired the popular Solana-based memecoin, lasted for three days on the digital collectible marketplace Foundation.
GCR, also known as Gigantic Rebirth Ventures, is famous for its $10 million bet against Do Kwon, the founder of Terraform Labs. GCR emerged victorious as Terra’s token suffered a $60 billion collapse, leading to Kwon’s current legal troubles and potential extradition from a Balkan prison.
The auction for Achi’s NFT took place after the supposed owner announced the collaboration with Fiesty DAO on Instagram. The post claimed that the photo, depicting Achi in a homemade pink hat, was taken in 2018.
Dogwifhat gained popularity during the Solana memecoin frenzy last year, reigniting interest in on-chain assets. At its peak this month, the memecoin reached a market cap of over $3 billion and briefly surpassed Pepe in terms of market cap rankings.
According to CoinGecko, WIF experienced a 13% increase in 24 hours, reaching a price of around $2.80. The NFT auction concluded shortly after community members raised over $650,000 in cryptocurrency to display the Dogwifhat meme on the Las Vegas sphere.
In other news, Solana has set a new record with 816,000 new users joining the platform amid Dogwifhat’s 400% price rally. Stay updated by following us on Google News.
