Solana meme-coin Dogwifhat, or WIF, has risen by double digits within the last 24-hours, following the official X Twitter account’s confirmation, retraction, and then hinting that the canine would appear at Las Vegas Sphere.
It’s been more than 9 months since five organizers collected $700,000. Since then, the group has received massive amounts of criticism—most of it leveled at influencer Ansem because of his large following—with many demanding the funds be returned to donors. They thought the advertisement would never happen.
The Dogwifhat X Twitter account has posted a tweet on Tuesday evening. “Officially confirmed. Viva hat vegas,” accompanied with a photograph of its mascot, wearing the Sphere hat as well as holding a cell phone. "Q1 2025" This could be a hint at the date of an event. It was removed and re-posted quickly without any explanation. “officially confirmed” tag line.
“Dates as soon as we are allowed to share,” Dogwifhat responded. “Hat stays on.”
Dates as soon as you allow us to share them
Hats that stay on
— dogwifcoin (@dogwifcoin) January 28, 2025
According to CoinGecko, WIF jumped 34.7% in the next four hours to reach $1.34. WIF, however, is down 6.2% in the last seven days, and 72% compared to its previous high, which was achieved back in March 2024 – the month when the Sphere Funds were raised.
The Wif Sphere wallet with multi-signature was transferred to a brand new wallet shortly after the X message. The funds are still in the wallet. The Onchain data indicates that USDC from the newly unnamed wallet was transferred to Coinbase about an hour before this large transaction.
It comes only a few days after the criticism of the Sphere Wif Hat Campaign intensified due to the $100 that was removed from the multi-signature fundraising wallet. In the past year, more than $13,000 in funds were transferred via several transactions to the multisig wallet. It appears that this wallet then used the money to play with meme coins.
Ansem responded by claiming that the largest transfer of money was for paying those who designed the hats and created the website. The most recent payment was an amount equal to the total cost. “test.” There was also a test transaction for $4.20 sent to another wallet before the $697,000.
For now, the Dogwifhat team insists that it’s confident the Sphere advertisement is going to happen—but not confident enough to say it’s “officially confirmed.”
Stacy Elliott edited this article.