Dogwifhat Meme NFT Auctioned For $4.3M To Enigmatic Trading Legend
Portfolio Pulse from Murtuza Merchant
The original Dogwifhat meme image was auctioned for $4.3 million or 1,210 Ether by the pseudonymous trader GCR. The image, which contributed to the popularity of the Dogwifhat (WIF) meme coin on the Solana (SOL) blockchain, was sold on the Foundation auction site. GCR, known for their market analyses and accurate forecasts, won the image after a bidding war. Following the auction, Dogwifhat (WIF) saw a 16% increase in its price.
March 18, 2024 | 4:58 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The auction of the Dogwifhat meme image, which is associated with the Solana (SOL) blockchain, could indirectly influence the perception and value of Solana.
While the auction directly impacts the Dogwifhat (WIF) meme coin, it also brings attention to the Solana (SOL) blockchain as the underlying technology. This could potentially influence investor sentiment towards Solana, although the direct impact on SOL's price is less clear.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The Dogwifhat (WIF) meme coin experienced a 16% price increase following the auction of its original meme image for $4.3 million.
The significant price increase of Dogwifhat (WIF) can be directly attributed to the publicity and validation the meme and its associated coin received from the high-profile auction. The involvement of a well-known figure like GCR likely contributed to increased investor interest and confidence in the coin.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100