8 months ago
33 ARTICLE AD
WIF price jumps following GCR's high-profile acquisition.
The original Dogwifhat meme, featuring a dog wearing a pink beanie hat, has been sold for 1,210.759 ETH, worth approximately $4 million at the time of writing. Prominent crypto trader Gigantic Rebirth (GCR) won the bid at an auction hosted by Foundation.
The auction saw a fierce bidding war between GCR, using the alias “PleasrDAO,” and Memeland, a crypto project. GCR ultimately emerged victorious with a winning bid of 1,210.759 ETH after nearly an hour of intense competition. The original meme can be studied as an ERC-721 NFT (non-fungible token) through this Etherscan address.
Cryptopathic, a pseudonymous crypto investor involved in setting up the auction, confirmed on social media platform X that GCR had submitted the winning bid. The auction was settled by Chris Biron, a designer at Foundation.
“On November 17, 2018, Achi’s parents captured him in an endearing hat on camera. The photo of Achi wearing a small hat instantly took the internet by storm, and now it has captured the hearts of people around the globe as a meme called $wif,” Foundation said in its post about the auction.
GCR’s involvement in the auction has significant implications for the crypto community, given their reputation as one of the top traders by realized profit on the now-defunct crypto exchange FTX in 2021-22.
Known for their insightful market analysis and uncanny ability to predict market movements months in advance, GCR gained further acclaim by accurately timing the market top in 2022 and shorting 30 popular tokens they considered overvalued.
Although GCR has maintained anonymity and ceased using X from at least April 2023, their influence continues to resonate within the crypto community, with their posts frequently cited and referenced across the platform.
The news of GCR’s successful bid for the original Dogwifhat meme has had an immediate impact on the price of the associated meme coin, $WIF, which surged by 10% in the hour following the auction’s conclusion.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by HAL, our proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
