- The Dogwifhat team launches Las Vegas Sphere campaign.
- Fundraising to feature on the Sphere is off to a strong start.
- Memecoin mania is running rampant.
Dogwifhat has been on an unprecedented tear lately, adding a staggering $1 billion to its market valuation since the beginning of March as memecoin mania takes hold. Riding high on this wave of popularity, the Dogwifhat team has embarked on an audacious plan to feature their iconic meme on the Las Vegas Sphere (LVS).
Dogwifhat LVS Dream on Track
X influencer Ansen set in motion the audacious plans to feature the Dogwifhat meme on the LVS in a recent tweet, which has garnered over two million views and over four thousand likes at the time of writing.
The LVS is a massive spherical structure widely considered an architectural and technological marvel. The 18,600-seater venue features immersive visual and audio capabilities, while the exterior is clad in over 50,000 square meters of LED screens to provide an eye-catching display. The venue launched in September 2023 and cost $2.3 billion to build.
Sponsored
To transform the LVS vision into a tangible reality, the Dogwifhat team invited its community of supporters to contribute USDC. The fundraising goal to secure LVS display rights stands at $650,000. Remarkably, within a single day, the contributions are nearing the halfway mark, with almost $303k raised at the time of writing.
However, this publicity stunt has not been without its critics. Among the dissenting voices is BoldLeonidas, who raised concerns that the LVS campaign could potentially serve as a “top signal,” fostering debate on whether the bull market has further to go. Regardless of cycle tops, there has been no debate about the popularity of memecoin investing lately.
Memecoin Season
Memecoin investing has engulfed the crypto sector as degens hunt for the next Dogwifhat. At the forefront of this memecoin frenzy is the Solana blockchain, which has hosted many recently released tokens that have recorded unreal gains in a matter of days.
Notable examples include jeo boden and ronbert kendedy jr, with jeo boden launching on March 3 to embark on a stratospheric rise, recording an over 83,000% gain by the time it peaked at 0.08 SOL on March 9.
Sponsored
Although memecoin mania is back, Ethereum co-founder Vitalik Buterin recently cautioned that this comes at the expense of crypto infrastructure that builds fundamental value for the long term.
On the Flipside
- Memecoins are high-risk and often feature zero utility.
- The LVS has been criticized for its wasteful electricity use and impact on wildlife.
Why This Matters
The LVS fundraiser extends beyond the confines of memecoin culture; it serves as a testament to the indomitable spirit of online communities and their collective ability to mobilize resources towards ambitious, unconventional goals. However, among the euphoria, memecoin investing remains fraught with abandoned projects and rug pulls.
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