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Dogwifhat Community Plan to Put the Meme on the Vegas Sphere
Social media users wonder if the display marks “cycle top” behavior.
Updated Mar 20, 2024, 4:58 p.m. Published Mar 11, 2024, 6:51 a.m.
- Dogwifhat community members are raising $650,000 to put the meme on the Vegas Sphere.
- Such behavior may mark a local top, some say, but the donation address has met less than 50% of its goal more than 24 hours since going live.
A recent run-up in meme coins is leading some communities to do things that usually signify frothy market behavior – depending on whom you ask.
Followers and community members of the runaway Solana hit Dogwifhat (WIF) are publicly raising funds to display the meme picture of a dog wearing a pink beanie cap on the Las Vegas Sphere.
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iight bros, it's time, we're putting dogwifhat on the vegas sphere 🫨 https://t.co/lVm0Hjog8o pic.twitter.com/vK4LlXYs8G
— Ansem 🐂🀄️ (@blknoiz06) March 10, 2024
The Sphere is a spherical entertainment venue that seats over 18,600 people, and the outside is a gigantic display panel that completely wraps around its dome. The dome can reportedly be rented out for $450,000 a day to display whatever its purchaser wants.
“WE’RE PUTTING A HAT ON THE SPHERE,” a donation page that went live early Sunday reads. It has raised nearly $300,000 of a targeted $650,000 as of Monday morning. Donations are only accepted in USD Coin (USDC) stablecoins to a wallet controlled by five individuals.
Blockchain data shows donation amounts range from $1 to as much as $9,999. Some developers have even floated a “Sphere Wif Hat” token, with hopes of it pumping so much that the donation goal is met.
Meanwhile, the effort has left X users divided on whether the WIF display is a sign of a cycle top, where crypto millionaires typically turn to doing whimsical things, or an advertisement that would further popularize WIF.
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