Iconic dog photo from Dogwifhat meme coin sells at auction for $25k as NFT

A photo of a dog from the logo of the Dogwifhat meme coin is ready to be bought as an NFT for $25,000.

The dog’s alleged owner, who has become the symbol of the Dogwifhat (WIF) meme coin, has put a famous photo of the dog up for auction as a non-fungible token (NFT) item.

The dog’s name was previously Chi-Chi, but it was later changed to Achi. The famous photograph, which became the logo of the Dogwifhat meme coin, was allegedly taken two months after its birth on Nov. 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.”

The auction has been going on for several days on the Foundation site, but it attracted the attention of the crypto community only on March 15, when the size of the bids reached staggering values. Thus, users are willing to spend several Ethereum (ETH) on an image of a dog in a pink hat.

At the time of writing, the most significant bid is 6,942 ETH, which is over $25,600 at current rates.

Earlier in March, the Dogwifhat project community raised more than $703,000 to place the dog symbol of the WIF meme coin on the screen of the MSG Sphere entertainment complex in Las Vegas.

According to the Wif-sphere platform, the fundraiser collected over $300,000 within the first 24 hours and has now exceeded $700,000.

The hype around WIF has been going on for several months now amid a rapid price increase and market capitalization increase. Launched late last year, WIF is now the fourth-largest meme coin by market capitalization. The excitement around Dogwifhat is periodically fueled by stories of traders who earned several hundred thousand dollars on the token by investing insignificant funds.