Assessing how WIF’s price took a hit after Las Vegas Sphere plans fell through

WIF’s price fell after Sphere denied any advertising deal, sparking transparency concerns
Bitcoin’s market influence and whale accumulation could shape WIF’s volatile price action

Memecoins are no strangers to hype-driven marketing, with Dogwifhat (WIF) recently leaning into it too. However, what started as an ambitious crowdfunding campaign to showcase WIF on the Las Vegas Sphere has turned into a controversy, one that has shaken investor confidence.

Dogwifhat’s Las Vegas Sphere campaign

The Dogwifhat (WIF) community launched a crowdfunding initiative in early 2024, raising nearly $700,000 to display the token’s logo on the Las Vegas Sphere. This marketing push initially drove excitement and pushed WIF’s price to an all-time high of $4.83 in March 2024.

Community doubts and official denial

As months passed without confirmation from Sphere’s management, skepticism within the WIF community grew. On 28 January 2025, Dogwifhat’s official X (formerly Twitter) account reignited discussions with a post stating, “Officially confirmed. Viva hat Vegas,” accompanied by an edited image hinting at a Q1 2025 event.

However, the post was later edited to remove the phrase “officially confirmed,” further fueling speculations.

On 31 January though, a spokesperson for Sphere publicly denied any agreement with Dogwifhat, stating,