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Cryptocurrency

'Yes This Is Real': Videos Of Wall Street Bull 'Wif Hat' Go Viral, 'Dogecoin Killer' $WIF Up 17%



© Reuters. ‘Yes This Is Real’: Videos Of Wall Street Bull ‘Wif Hat’ Go Viral, ‘Dogecoin Killer’ $WIF Up 17%

Benzinga – Viral videos of the Charging Bull bronze statue on Wall Street wearing a knitted hat sent commentators on X, formerly Twitter, into a frenzy and the referenced memecoin Dogwifhat (CRYPTO: WIF) surging 17%.

What Happened: On Friday afternoon, videos appeared of the Charging Bull wearing “a hat,” with curious onlookers taking pictures of the unusual sight:

Several videos from different angles show people taking pictures with the hat-wearing bull. “THE NORMIES LOVE $WIF,” exclaimed one account on social media. According to an unconfirmed report from an observer on site, the bull’s appearance was popular with some of the bystanders:

According to a photo of another social media observer, the hat “came off” the bull later in the day. The same observer asked Ansem, a Solana (CRYPTO: SOL)-related influencer to “kindly head over and put it back on.” Ansem, a New York City resident, headed to Wall Street, documenting his “sidequest” to “return the hat to the bull” in several tweets. He tweeted a night-time picture of himself and the bull statue – with hat.

It is unknown whether the bull is still wearing the hat at the time of writing.

Read Also: Report Outlines How To Trade Today’s Altcoin Market: ‘SOL Will Be Our Main Focus’

Why It Matters: The publicity stunt prompted the related Dogwifhat memecoin to surge 25%.

It is currently trading around $0.25, up 17% over the past 24 hours but down around 50% from its all-time high. $WIF has been tipped to become a long-term rival of established dog-themed memecoins like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).

Commentators on X were amused by the stunt.

“Bullwifhat,” tweeted Kraken, a crypcurrency exchange.

Arthur Hayes, co-founder of BitMex, a cryptocurrency exchange, said, “TradFi better watch out. When we $WIF hat, anything is possible.”

Another observer was impressed by “this ‘marketing’ campaign while WIF is at the lows, down >50%,” saying “hat stays on.”

In a separate — but possibly related — development, a Twitch streamer and Fortnite player going by the social media handle “issa” claimed to be the originator of the “Dogwifhat” meme. He announced in a tweet that he would be “launching the REAL $dogwifhat, but on Ethereum.” Screenshots seem to lend credibility to his claim, although they could not be independently verified.

The $dogwifhat token on Ethereum (CRYPTO: ETH) launched to a high of $30 million in market capitalization and is currently trading around a market cap of $10 million.

What’s Next: The marketing stunt can be seen as another sign of cryptocurrency culture seeping into the mainstream, with memecoins at the forefront of it.

Read Next: Bitcoin Could Go ‘To $150K,’ Says Crypto Veteran Lark Davis, Shares Exit Strategy: ‘Don’t Buy Forever’

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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