dogwifhat (WIF): tokenomics, risks and score
A Solana memecoin based on a single photograph of a dog wearing a knitted hat, which became one of the largest memecoins of the 2024 cycle.
What dogwifhat is, and what it does
This is a memecoin. It has no product, no revenue and no mechanism producing value. It is worth what attention makes it worth, which is the whole proposition and should be understood before buying.
What the WIF token itself does: No tax, no burn, no revenue, no staking. Contract authority renounced and liquidity burned.
Where it runs: Solana. Mechanism: SPL token on Solana. It has been running since 2023, so roughly 3 years.
The facts
- TICKER
- WIF
- SECTOR
- Memecoins
- CHAIN
- Solana
- LAUNCHED
- 2023, so around 3 years of operating history
- MECHANISM
- SPL token on Solana
- MAXIMUM SUPPLY
- Approximately 998.9 million
- VALUE CAPTURE
- None
- UPGRADE CONTROL
- Immutable
- VESTING
- Complete
- LIQUIDITY BAND
- Small cap. Limited venue coverage. Check the order book before assuming you can exit.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
A hard maximum supply that cannot be raised without the agreement of essentially every participant. The token captures no protocol revenue. Any value rests on governance rights, speculation, or future changes that have not happened yet.
No tax, no burn, no revenue, no staking. Contract authority renounced and liquidity burned.
Contracts are immutable and there is no admin key. Nobody can change the rules after the fact. Ownership is heavily concentrated. A small number of wallets hold enough to determine the price on their own.
Where it is strong and where it is not
- Supply is capped, so holders are not diluted indefinitely
- Immutable contracts with no admin key to abuse
- Fully open source, so the code can be independently reviewed
- Vesting is complete, so there is no scheduled supply overhang
- Heavily concentrated ownership means a few wallets control the outcome
- The token captures no protocol revenue, so its value rests on sentiment
- Thin liquidity. Check order book depth before assuming you can exit
Incident history
No major exploit, collapse or regulatory action on record against this asset.
Our read
The main risk
A pure attention asset with no mechanism, no revenue and no floor beneath it.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.