Waghya was born in Raigad, Maratha Empire.
After Chhatrapati Shivaji's death, the Waghya mourned and jumped into his master's funeral pyre and immolated himself.
In memory of Waghya, a memorial was built next to Chhatrapati Shivaji's samadhi at Raigad Fort with a donation by Indore’s Prince Tukoji Holkar in 1906, who gave ₹5,000 (US$70) towards the dog's statue.
Reportedly by Mid-Day, the statue of Waghya was erected on a Samadhi at Shivaji's memorial in 1936 under the banner of Shri Shivaji Raigad Smarak Samati (SSRSS) in leadership of Narasimha Chintaman Kelkar.
In 2011, Sambhaji Brigade, an extremist group was responsible for a protest and attack against Waghya's statue located on Raigad Fort next to Chhatrapati Shivaji Maharaj's memorial. The group claimed that the dog was not real and there shouldn't be a memorial for it. This act was strongly opposed by local Dhangar community for they believe that the dog was real.