Solana Meme Coin Dogwifhat Gains Double Digits Amid Las Vegas Sphere Speculation

Solana meme coin Dogwifhat (WIF) has jumped double digits over the past 24 hours, after the token’s official X account confirmed, retracted, and then only hinted that the dog would finally appear on the Las Vegas Sphere.

This comes more than nine months after five organizers raised $700,000 to put Dogwifhat on the Sphere. 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. Many thought that the advert was never going to happen.

But on Tuesday evening, the Dogwifhat X account posted “Officially confirmed. Viva hat vegas,” accompanied by a photo of its mascot wearing the Sphere as a hat and holding a phone with “Q1 2025” showing on its screen, possibly hinting at when it will take place. This was quickly deleted and reposted without the “officially confirmed” tag line.

“Dates as soon as we are allowed to share,” a Dogwifhat reply said. “Hat stays on.”

As a result, WIF spiked 34.7% to $1.34 over the coming four hours, according to CoinGecko data. That said, WIF is still down 6.2% over the past seven days and 72% from its all-time high achieved in March 2024, the same month the Sphere funds were raised.

Shortly after the X post, $697,811 left the Wif Sphere multi-sig wallet to a new, unnamed wallet. These funds still sit in the wallet. Onchain data shows a small amount of USDC was sent to a Coinbase wallet from the new unnamed wallet an hour before the large transaction.

This comes just a matter of days after criticism around the Sphere Wif Hat campaign intensified, due to $100 being moved out of the original multi-sig fundraising wallet. Last year more than $13,000 was transferred to the multi-sig wallet via multiple transactions, all to the same wallet. This wallet appears to have later used the funds to gamble on meme coins.

In response, Ansem claimed the larger movement of funds was to pay those who set up the website, designed and made hats as merch, and the most recent transaction was a “test.” Still there was a separate test transaction of $4.20, sent to a different wallet ahead of the $697,000 transaction.

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.”

Edited by Stacy Elliott.