The team behind Dogwifhat, a Solana-based meme coin, has denied accusations that it misled investors and donors regarding its plan to feature an advertisement on the Las Vegas Sphere.
Addressing concerns in a post on X, the team reaffirmed its commitment to the “Sphere Wif Hat” initiative while acknowledging ongoing challenges.
The campaign, which aimed to showcase Dogwifhat on the world-famous digital billboard, gained significant traction within the crypto community. Excitement surrounding the project contributed to a surge in the token’s price, as many believed such visibility would benefit Solana-based assets. However, representatives from the Las Vegas Sphere clarified that no formal agreement exists between the parties.
Launched on March 10, the fundraiser quickly amassed $700,000 but has yet to materialize into a confirmed advertisement. Dogwifhat’s organizers stated they are negotiating with established brands to facilitate the placement.
A timeline for the ad has reportedly been agreed upon, but the team assured donors that if the plan falls through, contributions will be refunded.