Solana-based memecoin dogwifhat (WIF) has responded to concerns over a fundraiser to place its token logo on the massive Sphere screen in Las Vegas.
The “Sphere Wif Hat” initiative, which was launched about a year ago, managed to raise $700,000 in just a few days. However, the campaign has not yet been launched and investors have begun to question the fate of the donations.
Will the Campaign Take Place? Here is the Final Statement
The Dogwifhat team explained in a January 31 X post that the organizers are still negotiating with various parties for the Sphere ad. It was stated that the WIF team is not a company, so they are collaborating with a well-known brand to complete the ad deal.
The team said that a specific timeline has now been agreed upon with the relevant parties. If the plan does not materialize for any reason, the contract will be cancelled and donors will be refunded.
WIF hit an all-time high of $4.85 three weeks after the fundraising campaign began, but has since lost about 77% of its value, currently trading at $1.12.
Stay tuned for new developments
