DeXe (dexe) 
Dogwifhat’s Price Takes a Hit Amid Las Vegas Ad Campaign Uncertainty
The Solana (SOL)-based meme coin, Dogwifhat, has experienced a significant decline in value, with its price dropping over 11% at last check on Saturday. This downturn comes after the project’s team attempted to clarify the details surrounding a delayed crowdfunded initiative to launch an ad campaign at the Las Vegas Sphere.
Uncertainty Surrounding the Las Vegas Ad Campaign
According to Dogwifhat’s official X account, the project’s organizers have been in negotiations with multiple parties to execute an advertisement placement at the Sphere. However, a representative for the Las Vegas Sphere denied any agreement to feature the Dogwifhat meme coin at the venue, sparking concerns among the community.
“The Wif Sphere organizers have been in ongoing negotiations with various parties to collaborate on the Sphere ad placement. Since the Wif team is not a corporate entity, the organizers are collaborating WITH an established brand to execute this advertisement. Timeline has been agreed upon by affiliated parties.”
This clarification was made in response to growing concerns from the community, who had contributed $700,000 to the campaign in March 2024. The project’s team emphasized that if the advertising plan fails to execute, all contributions will be returned to donors.
Market Performance and Concerns
Recent market data shows Dogwifhat experiencing substantial losses across multiple timeframes, including a 6.5% decline in the last 24 hours, a 13.8% decline in the last 7 days, and a 44.9% decline in the last 30 days. The token has plummeted 77.3% from its all-time high of $4.83, reached on March 31, 2024.
The price drop comes amidst the overall bearish market conditions, with the global crypto market cap dropping 2.12% in the last 24 hours to $3.48 trillion. The market cap of Solana meme coins has also dropped as low as 10.2% in the last 24 hours.
Other Solana Meme Coins Experience Similar Declines
The largest SOL meme coin, Official Trump, has lost 10%, while every top meme coin except Pudgy Penguins has seen price drops during this period. The declines in these meme coins are likely due to the overall bearish market conditions and the uncertainty surrounding the Las Vegas ad campaign.
For those looking to stay up-to-date with the latest developments in the world of cryptocurrencies and finance, be sure to check out Global Crypto News for more information and insights.
