Traders online are scrutinizing the fundraising project done to raise $650,000 to put the dogwifhat icon on the Las Vegas Sphere due to inactivity. The funds have surpassed the goal, however the dog with the pink hat has yet to appear on the sphere.
On the social media platform X, users have started noticing the project’s inactivity 10 months after the funds surpassed the set goal. Meanwhile, the donations worth nearly $700,000 in USD Coin (USDC) are still kept frozen in the crypto wallet held by a team of influencers.
One of the users on X with the username @0xShual noted how “bizarre” it was that no one has spoken out about the project’s lack of accomplishment after almost a year of fundraising. At the time of writing, the dogwifhat (WIF) icon, which features a Shiba Inu dog wearing a pink hat, has yet to appear on the Las Vegas Sphere.
“Jokes aside — what the fuck? do people not care about this? no petition for refunds, nothing? At least farm with this capital, it’s just been sitting there idly for almost a year,” said Shual in a recent X post. Many users began expressing doubt in the comments section on whether the project will actually become a reality.
“Yeah definitely odd, also Ansem basically saying like “it was hard so I stopped trying” made me lol (laugh out loud),” said another user.
The Las Vegas Sphere is a 366 feet high and 516 feet wide globe that spans Sands Avenue, just off the Las Vegas Strip and east of the Venetian resort. It is known to project various different emojis and advertisements on what the site claims to be “the world’s largest LED screen.”
In January 2024, a group of five crypto influencers led by Zion Thomas, known in crypto spaces under the alias Ansem, launched a campaign to raise money to put the dogwifhat icon on the Las Vegas Sphere. By March 2024, the group managed to raise enough money to pay the $650,000 fee needed to put the Solana meme coin icon on the Sphere for an entire week.
However, weeks after the campaign surpassed its target, updates began to slow down and donors began to doubt the project’s validity. The last update given by Ansem was in July 2024, when he seemingly joked about the campaign failing to put dogwifhat on the sphere due to a blue-screen error.
“Damn i can’t believe this happened on the day we put wif on the sphere,” he wrote in his post.
Whether the group intends to carry out the project is still unknown, but traders have begun to grow nervous as the dogwifhat coin dips by nearly 45% in the past month, according to data from crypto.news. In the past week, the meme coin has gone down by more than 18%.
Launched in November 2023 on the Solana (SOL) blockchain, dogwifhat is a meme coin based on a viral internet picture of a dog wearing a pink crocheted hat. It gained popularity among traders, reaching a $1 billion market cap only 81 days after launch. Now, the meme coin’s market cap sits at around $1.5 billion.
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