Reviewed By Crypto Daily News | April 30, 2025
The popular Solana-based memecoin Dogwifhat (WIF) is back in the spotlight—but not for the reasons investors had hoped.
After hitting an all-time high of $4.80 in March 2024, WIF saw massive swings throughout the year. It dropped to just $1, then made a strong comeback, reaching $4.70 by the end of December 2024. But since the start of 2025, the coin has been in a downtrend.
Earlier this month, WIF hit a yearly low of $0.30, but has since shown a strong bounce. This week, it briefly touched $0.71, and as of April 30, it’s trading at $0.60, up around 1% today.
The Las Vegas Sphere Controversy
In March 2024, the WIF community raised $650,000 to put their mascot—a Shiba Inu wearing a pink beanie—on the Las Vegas Sphere, a world-famous digital display. The campaign hit its goal, and the event was expected to boost the coin’s visibility. However, the ad never aired.
This caused disappointment across the community and led to a 50% drop in WIF’s price. The team later announced they would refund the money, but so far, they haven’t given a specific timeline. This sparked concern among investors and even drew attention from the SEC, which is reportedly reviewing the situation.
Market Impact and Community
As a result of the recent price drops, WIF has fallen out of the top 100 cryptocurrencies by market cap. Despite this, the coin still has a loyal following, with over 200,000 Twitter followers actively engaging with updates, memes, and community posts.
Market analysts remain divided on WIF’s future. Some believe it could recover and reach $1 or higher, possibly hitting a $2 billion market cap again if hype returns. Others warn that uncertainty around the refund and regulatory concerns could weigh on the price.
Final Thoughts
WIF has proven it’s more than just a meme, with huge rallies and a passionate community. But for now, the coin faces serious challenges. Investors will be watching closely to see whether the team follows through on their promises—and whether WIF can bounce back once again.
