Dogwifhat, a Solana-based memecoin, has addressed concerns surrounding the "Sphere Wif Hat" initiative, a crowdfunding campaign launched by token supporters nearly a year ago to get the token's logo on the Las Vegas Sphere. Despite raising $700,000 within days of launching on March 10, the project has yet to come to fruition.

The official account of Dogwifhat has stated that the Wif Sphere organizers have been in ongoing negotiations with various parties to collaborate on the Sphere ad placement. The timeline has now been agreed upon by affiliated parties, and if the plan is not fulfilled, the contract will be voided, and all those who donated funds to the project will be refunded. Dogwifhat has emphasized that there has been no intent to mislead any parties.

Dogwifhat hit a new all-time high of $4.85 three weeks after the crowdfunding launch. However, it has since dropped nearly 77%, trading at $1.12 at the time of publication.

In July 2024, Mihir, one of the five organizers listed on the official "sphere wif hat" website, told Cointelegraph he was "90% confident" the campaign to emblazon the mascot on the Las Vegas Sphere for an entire week was going ahead. Representatives from the Sphere had crafted new "crypto-specific" terms after hearing of the campaign, and there had been internal meetings to develop their crypto-related policies in response to the initiative.