What’s next for Dogwifhat? The future remains uncertain.
The Solana (SOL)-based Dogwifhat (WIF) coin has experienced a troubling decline, falling over 11% as of Saturday. This drop follows recent attempts by the meme coin team to address delays surrounding a crowdfunded initiative for an advertising campaign at the renowned Las Vegas Sphere.
Dogwifhat’s official communication clarified that organizers have been in discussions with various entities for ad placement at the Sphere, which boasts cutting-edge 360-degree LED displays. However, a spokesperson for the Las Vegas Sphere refuted claims of any formal agreement to showcase the Dogwifhat meme coin.
Frustration among Dogwifhat supporters led the team to provide further clarification on the situation. In a statement, they reiterated that they are collaborating with an established brand due to their lack of corporate status. They also confirmed that a timeline for the initiative had been set.
Dogwifhat vows to refund contributions if plans fall through
The campaign, which successfully garnered $700,000 from the community in March 2024, has yet to come to fruition as of early 2025. In light of growing concerns regarding fund management, the Dogwifhat team assured contributors that if the advertising plans do not come to pass, all contributions will be returned, emphasizing that there was “no intent to mislead any parties.”
Recent market analysis indicates significant losses for WIF across various timeframes:
- 24-hour decline: 6.5%
- 7-day decline: 13.8%
- 30-day decline: 44.9%
The token has plunged 77.3% from its all-time high of $4.83 reached on March 31, 2024. This announcement arrives as the community intensifies scrutiny over the delayed advertising campaign at the Sphere.
While Dogwifhat faces these challenges, the broader crypto landscape is similarly bearish, with the total market cap of cryptocurrencies decreasing by 2.12% in the past 24 hours to $3.48 trillion.
Moreover, the market cap for Solana-based meme coins has dropped approximately 10.2% over the same period. Other major meme coins have also faced downturns, with the largest SOL meme coin, Official Trump (TRUMP), losing 10% in value during this timeframe.
