What is Dogwifhat (WIF)? Solana's Meme Coin with a Hat
Dogwifhat has quickly become one of the biggest meme coins in crypto. But what is it really? And where did it come from?
What do you get when you see an adorable dog wearing a cute hat? Of course, it's a meme coin!
A photo of a dog wearing a pink knit hat went viral and quickly took the crypto world by storm, giving birth to Dogwifhat (WIF), a meme coin on the Solana blockchain.
According to its official website, WIF doesn't promise any revolutionary technology or practical utility—"literally just one with a hat." Still, the coin quickly became one of the biggest meme coins by market cap after its launch in November 2023, although its value has seen wild swings.
What is WIF?
Dogwifhat (WIF) is a meme coin built on the Solana blockchain, with the community often saying “the hat is still on” as a symbol of support. It gained popularity thanks to strong support from the crypto community and leaders like Ansem, who were influential in promoting the token.
There’s not much more to WIF—it’s simply a dog wearing a hat. But its resonance with the crypto community has helped it become a phenomenon.
The ups and downs of WIF
Dogwifhat officially launched in November 2023, before reaching an all-time high of $4.83 and a market cap of $4.58 billion on March 31, 2024.
In the first weeks, many token holders (HODLers) saw significant gains. In December 2023, the price of WIF increased by 2,000 times in just one month. One investor turned his initial $300 investment into $300,000, while another became a WIF millionaire.
The Hat and the Dog Achi
The dog featured in the meme is named Achi (formerly Chi-Chi), a Shiba Inu popular in the crypto community. A photo of Achi wearing a pink knitted hat, taken in November 2018, became the Dogwifhat icon. Achi now lives in South Korea with his owner, who knitted the hat himself.
Achi's owner auctioned off the famous photo as an NFT on the Ethereum blockchain, disappointing the Solana community for not choosing their blockchain platform.
Who created the Dogwifhat meme?
The Dogwifhat meme originated from professional Fortnite player Issa, who used an image of his dog Achi as his Twitter profile picture in 2019. The word "Dogwifhat" then spread, with many players and streamers from other games like Rocket League changing their profile pictures to the image.
Sphere Wif Hat Campaign
In February 2024, the "Sphere Wif Hat" campaign was launched with a goal of raising $650,000 to advertise a dog wearing a hat on the world's largest screen: the Sphere in Las Vegas. Although the goal was met in March, the advertisement had not been implemented as of March 2025.
Dogwifhat fans have expressed concern over the silence of the organizers. Eventually, one of the organizers stated that if the campaign was canceled, the money would be returned.
Conclusion
Dogwifhat has made waves in the crypto community, but the story of the Sphere campaign is still unclear. It remains to be seen whether the dog in the hat can become a larger icon in the crypto space.