Dogwifhat Down 18% Despite Grammy Hype: 'This Hat's Not Going Anywhere'

Dogwifhat WIF/USD has suffered a sharp selloff as community uncertainty swirled over whether the highly anticipated Vegas Sphere ad will actually go live.

What Happened: At the 2025 Grammy Awards, singer Joy Villa made waves by sporting a WIF dog necklace and a custom hat reading "The Hat Stays On."

She tied the phrase to Trump's political resilience, stating: "They tried to get rid of Trump, and he's still here. This hat's not going anywhere."

Crypto journalist Laura Shin also noted Villa's support for WIF, adding to its cultural visibility

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogwifhat WIF/USD	$0.8341	$834.3 million	-17.5%	-25.7%
Fartcoin FARTCOIN/USD	$0.8197	$820.6 million	+42.8%	-13.8%
Pudgy Penguins PENGU/USD	$0.01306	$820.9 million	-1.9%	-42.8%

Trader Notes: While Trade Koala revealed that he re-longed and added on key support – resistance reclaim.

Statistics: Coinglass data shows Dogwifhat long liquidations at $7.77 million, the highest since Jan. 13.

While derivatives trading volume spiked 155% in the past 24 hours, open interest dropped 41.2%.

Community News: In a post on X on Feb. 1, Dogwifcoin organizers reassured the community that discussions are still underway with various partners for the Sphere ad placement.

They're collaborating with an established brand to execute the campaign. A timeline is agreed upon, and if the deal falls through, contributions will be refunded.

"There has been no intent to mislead any parties," they emphasized.

Read Next: 

• Dogwifhat Rallies 17% From The Bottom, Outpacing Dogecoin, Shiba Inu: Why Is WIF Going Up?

Image created using artificial intelligence with Midjourney.