Propose an edit: dogwifhat

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dogwifhat (WIF) is a meme coin on the [[Solana]] blockchain whose logo is a photograph of a Shiba Inu wearing a pink knitted hat. Launched on November 20, 2023, it became the signature coin of the late 2023 to early 2024 Solana meme coin run and a core piece of trench canon.

## Origin

The coin is based on the "dogwifhat" meme, a photo of a Shiba Inu in a knitted beanie that circulated widely on crypto Twitter. The source photo has a precise history: Achi, a Shiba Inu in South Korea, was photographed in the pink knitted hat in November 2018 by an owner posting on Instagram as ma_babezz, who published the image in December 2018, years before crypto Twitter adopted it; auction partners later verified the account as Achi's real owner through five years of photos of the dog in knitwear. The token launched anonymously on Solana in November 2023 with a supply of roughly one billion and no stated utility; its slogan, "literally just a dog wif a hat," became a meme in its own right. Early promotion by prominent traders on X, most visibly [[Ansem]], helped turn WIF into the mascot of the emerging Solana meme casino.

## Market history

WIF traded for fractions of a cent at launch, then rose explosively through December 2023 and the first quarter of 2024 as Solana meme coins became the market's dominant narrative. A [[Binance]] listing on March 5, 2024, accelerated the run, and WIF printed its all time high, which CoinGecko records at 4.83 dollars on March 31, 2024, a market capitalization of roughly 4.8 billion dollars, a move of roughly 3,100x from CoinGecko's all time low of 0.001555 dollars on December 12, 2023. That made it, briefly, the third largest meme coin in crypto behind Dogecoin and Shiba Inu.

In March 2024 Achi's owner separately auctioned the original photo as an NFT on Foundation, on Ethereum rather than Solana, which itself caused a small culture war with the Solana community; the trader known as GCR won it for 1,210.759 ETH, about 4.3 million dollars.

Supporters crowdfunded a campaign to display the dogwifhat image on the Las Vegas Sphere (see [[Dogwifhat Sphere campaign|Sphere campaign]]): per Cointelegraph's March 14, 2024 coverage, the drive raised over 702,000 dollars in USDC, was fronted by Ansem with support from Solana ecosystem players including Phantom, and drove WIF 25 percent higher to a then record of about 3 dollars and roughly 3 billion dollars market cap, at which point it ranked as about the fourth largest meme coin and was already larger than [[bonk]]. Ansem posted "bink! dogwifhat on sphere fully funded" on March 13, 2024. The saga curdled over the following year: DL News reported the influencer organizers still sitting on the roughly 700,000 dollars months later, and on January 31, 2025 a Sphere spokesperson told Decrypt there was no deal with dogwifhat and no plans to ever display it, with the venue accusing the campaign of using its name illegitimately. The campaign was formally abandoned on March 31, 2025, when organizer Edward, known as GamesMaster.wif, announced refunds beginning April 1, 2025 through the multisig; Protos noted WIF's market cap had fallen about 91 percent during the saga, from about 4.27 billion to about 426 million dollars.

The late 2024 legitimization wave had dates: Coinbase added WIF to its listing roadmap around November 13, 2024, sending it up about 21 percent, and Robinhood listed WIF on November 25, 2024. WIF retested the four dollar area in November 2024 during the post election meme rally, then declined through 2025 with the broader meme complex. Status check, August 19, 2026: WIF trades around 0.137 dollars, about 97 percent below the high, market capitalization about 136 million dollars, rank near 200 on CoinGecko.

## Cultural impact

WIF is remembered as the coin that proved a pure image, with no team, roadmap, or utility, could reach multibillion dollar scale on Solana. It minted a generation of trench millionaires, anchored the "hat meta" (a wave of derivative hat coins), and made Ansem one of the most followed figures in [[the trenches]]. The Sphere campaign, the Binance listing, and the "one wif" price targets all became recurring reference points in meme coin culture. WIF remains listed on most major exchanges and is still treated as a bellwether for Solana meme sentiment. The official X account remains in character in 2026; on July 8, 2026 it replied to the Solana account with "After careful deliberation: Hat stays on."

## References

- CoinGecko: https://www.coingecko.com/en/coins/dogwifhat
- IQ.wiki: https://iq.wiki/wiki/dogwifhat-wif
- Gate Learn: https://www.gate.com/learn/articles/what-is-dogwifhat-all-you-need-to-know-about-wif/4096
- Unchained: https://unchainedcrypto.com/what-is-dogwifhat-wif-and-why-is-it-up-so-much/
- gemini.com: https://www.gemini.com/blog/dogwifhat-is-now-available-on-gemini
- 99bitcoins.com: https://99bitcoins.com/cryptocurrency/dogwifhat-wif-review/
- The Block: https://www.theblock.co/post/282784/purported-owner-of-dog-from-dogwifhat-memecoin-selling-iconic-photo-as-nft
- Bitrue: https://support.bitrue.com/hc/en-001/articles/30089255319449-The-Owner-of-the-Dog-in-Famous-Meme-Dogwifhat-Sold-the-Meme-Photo-as-NFT-for-4-3-Million
- The Block: https://www.theblock.co/post/283079/dogwifhat-memecoin-iconic-photo-sold-as-nft-for-4-3-million
- Decrypt: https://decrypt.co/221974/dogwifhat-spat-ethereum-nft-auction-tensions-dog-owners-solana-community
- Cointelegraph: https://cointelegraph.com/news/dogwifhat-price-hits-record-high-las-vegas-sphere-crowdfund
- X post by @blknoiz06: https://x.com/blknoiz06/status/1767938938109415801
- DL News: https://www.dlnews.com/articles/people-culture/dogwifhat-influencers-sit-on-700k-meant-for-las-vegas-sphere/
- Decrypt: https://decrypt.co/236105/dogwifhat-solana-las-vegas-sphere-what-happened
- X post by @zoomerfied: https://x.com/zoomerfied/status/1885397507720560969
- Protos: https://protos.com/wif-fundraiser-says-vegas-sphere-refunds-will-start-on-april-fools/
- Bitcoinist: https://bitcoinist.com/no-sphere-wif-hat-in-las-vegas-dogwifhat-fundraiser-announces-start-of-refunds/
- The Block: https://www.theblock.co/post/326388/dogwifhat-soars-after-coinbase-announces-plans-to-list-the-memecoin
- crypto.news: https://crypto.news/robinhood-lists-dogwifhat-meme-coin/
- X post by @dogwifcoin: https://x.com/dogwifcoin/status/2074931872769900825

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