Renowned cryptocurrency trader Gigantic Rebirth Ventures recently made headlines by purchasing an NFT picture of the infamous Dogwifhat (WIF) canine for 1,210 Ether (ETH) worth $4.3 million. This viral meme of Achi, a dog in a hat, inspired the popular Solana-based memecoin that reached a market cap of over $3 billion.

GCR, known for making bold moves in the crypto space, also made a $10 million bet against Terraform Labs CEO Do Kwon, which he won as Terra’s token collapsed in a $60 billion implosion. Kwon is currently facing legal battles and extradition.

The auction of Achi’s NFT took place on the digital collectible marketplace Foundation after the owners announced the move in collaboration with Fiesty DAO. The photo featuring Achi in a homemade pink hat was originally captured in 2018 and went viral, leading to the creation of the Dogwifhat meme coin.

Dogwifhat gained popularity during the Solana memecoin frenzy last year, ranking 48 among all cryptocurrencies on March 18 and briefly surpassing Pepe (PEPE) in market cap. According to CoinGecko, WIF saw a 13% increase in 24 hours, trading at around $2.80.

The NFT auction closed after community members raised over $650,000 in crypto to display the Dogwifhat meme on the Las Vegas sphere, showcasing the growing interest and support for this unique digital asset.

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