Viral videos of the Charging Bull bronze statue on Wall Street wearing a knitted hat have caused quite a stir on social media. The footage sent commentators on X (formerly Twitter) into a frenzy, and as a result, the referenced memecoin Dogwifhat saw a 17% surge in its value.
The videos, which appeared on Friday afternoon, showed curious onlookers taking pictures of the Charging Bull wearing the unusual hat. Several videos from different angles captured the moment, with people expressing their excitement and love for the memecoin $WIF. The bull’s hat-wearing appearance seemed to be popular among bystanders, according to an unconfirmed report from an observer on site.
Later in the day, a photo surfaced showing the hat had come off the bull. The same observer asked Ansem, a Solana-related influencer, to “kindly head over and put it back on.” Ansem, a New York City resident, documented his “sidequest” to return the hat to the bull in several tweets, even sharing a night-time picture of himself and the bull statue with the hat.
As of now, it is unknown whether the bull is still wearing the hat. However, the publicity stunt has had a significant impact on the related Dogwifhat memecoin, causing it to surge by 25%. Currently trading around $0.25, the coin has experienced a 17% increase over the past 24 hours. However, it is still down approximately 50% from its all-time high.
$WIF has been touted as a long-term rival to established dog-themed memecoins like Dogecoin and Shiba Inu. The memecoin’s surge and the amusing nature of the stunt have entertained commentators on X, with some even remarking on the potential disruption it could bring to traditional finance.
“Bullwifhat,” tweeted Kraken, a cryptocurrency exchange. Arthur Hayes, co-founder of BitMex, a cryptocurrency exchange, also commented on the stunt, saying, “TradFi better watch out. When we $WIF hat, anything is possible.”
Another observer expressed admiration for the marketing campaign, stating, “hat stays on,” despite the coin’s current low value.
In a possibly related development, a Twitch streamer and Fortnite player going by the 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. While screenshots seem to lend credibility to his claim, they could not be independently verified.
The launch of the $dogwifhat token on Ethereum saw its market capitalization reach a high of $30 million, although it has since settled around $10 million.
The marketing stunt involving the Charging Bull and the memecoin can be seen as another example of cryptocurrency culture seeping into the mainstream. Memecoins have been at the forefront of this cultural shift, attracting attention and excitement from both crypto enthusiasts and the general public.
As the world of cryptocurrencies continues to evolve, it is clear that unconventional marketing tactics and viral moments like the Charging Bull wearing a knitted hat can have a significant impact on the market. Whether this trend will continue or fade away remains to be seen, but for now, the memecoin phenomenon is proving to be an entertaining and attention-grabbing aspect of the crypto world.
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