WIF has been one of the most-hyped memecoins late

WIF has been one of the most-hyped memecoins lately.

Dogwifhat (WIF) shot onto the Solana scene near November 2023’s end, quickly finding its spot among the wild, guess-driven world of cryptocurrencies. WIF didn’t bother with fancy tech talk; its whole idea was refreshingly basic – It’s “literally just a dog wif a hat.”

This image, a Shiba Inu sporting a noticeable pink knitted cap, almost overnight became a beloved symbol for some in the crypto community, its story growing through people talking about it and clever online promotion instead of any real-world use.

Nobody knows who started WIF, which isn’t unusual for memecoins, and this let the coin’s followers pretty much steer its entire journey. The coin caught on because of the general excitement for dog-themed tokens, but WIF’s straightforwardness and the funny meme it’s built on—a Shiba Inu named Achi in photos from around November 2018—really pulled people in.

WIF doesn’t actually do anything special. Its price, much like other memecoins, really just depends on what everyone thinks, how much it’s traded like a stock, and how catchy its meme is. Someone later paid a lot of money for an NFT of the original Achi picture, showing just how much the meme itself clicked with people.