August 12, 2025
Dogwifhat Knitted Beanie Fetches Almost 0,000 at Auction
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Dogwifhat Knitted Beanie Fetches Almost $800,000 at Auction

Aug 8, 2025

A tangible pink beanie associated with the Dogwifhat meme token has recently been auctioned off for 6.8 Bitcoin, which translates to approximately $792,696. The victorious bidder, Finn, the creator behind the Bags meme crypto token launchpad, has expressed intentions to eventually return the hat to the community. However, it’s uncertain whether that will involve a museum exhibit, a publicity stunt, or another approach, but it is now officially under his ownership.

Bidding Became So Fierce That the Auction Was Halted

At one stage, a bidder attempted to offer on the entire Bitcoin supply. The auction network, Ord City, put a stop to it. They suspended the auction, then restarted it with stricter regulations. When proceedings resumed, Finn stepped in with the highest legitimate bid and secured the item. This marks a unique incident where meme token drama escalated into an actual bidding conflict for a physical object.

The Hat Has Already Earned Millions as an NON-FUNGIBLE TOKEN

Prior to this auction, the pink hat gained fame from a picture of Achi, the Shiba Inu, donning it. That snapshot became synonymous with $WIF and was sold as an NFT for over 1,200 ETH—around $4.3 million at that time. Therefore, this beanie has now created millions in both digital and physical realms.

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This Was Funded by Meme Crypto token Hype

Finn’s bid was intentional. It was financed by the “Buy the Hat” token, a meme crypto token that essentially existed solely to secure this auction. With the hat now in his possession, it’s been incorporated into the Bags project’s branding. He hinted that more developments are on the way, though didn’t specify precisely what that entails. The entire scenario reflects both a marketing strategy and a demonstration of cultural significance.

Dogwifhat
Price
Crypto market Cap
WIF
$976.32M
24h7d30d1yAll time

Crypto token Price Soared Right After the Victory

As soon as the sale concluded, the Buy the Hat crypto token began to surge. It soared over 290 percent, elevating its crypto market cap from $1.6 million to more than $6.3 million within hours. The excitement subsided somewhat afterward, but it managed to maintain around $4.7 million, which is impressive for a meme token with a singular focus.

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WIF Itself Is Still Persisting

Dogwifhat (WIF) experienced a tumultuous journey earlier this year. It reached a trading market cap of $4.5 billion in March before experiencing a decline. Currently, it hovers around $950 million. Although it’s no longer in the spotlight, this auction has revitalized interest and reminded individuals of its initial surge in popularity.

The Beanie Was Crafted in South Korea

Achi’s owners personally knitted the pink hat. The famous photo was captured when the dog was just a few months old. What initiated as a humorous image has now evolved into one of the most recognizable visuals in the meme coin realm, while the genuine hat has transformed into a symbol carrying real value.

What This All Indicates

This wasn’t merely a high-cost joke. It forms part of a broader trend where crypto initiatives embrace cultural artifacts, remix them into tokens, and foster communities around them. The Dogwifhat hat has transitioned from being just a meme. It now encapsulates the developing strategies on how internet culture transforms objects into assets.

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Key Takeaways

  • The original Dogwifhat pink beanie just fetched nearly $800,000 at auction, bought by Finn, founder of the Bags meme crypto token launchpad.
  • The auction escalated to such chaos that organizers paused it after an attempt to bid for Bitcoin’s full token supply, before Finn made the winning offer of 6.8 Bitcoin.
  • The same hat image had previously sold as an DIGITAL COLLECTIBLE for over 1,200 ETH—exceeding $4 million—making it one of the top-grossing meme artifacts ever.
  • A meme crypto token called Buy the Hat financed the bid, surged over 290% immediately following the auction victory, and reached a $6.3M market cap before stabilizing.
  • Beyond the publicity stunt, the sale illustrates how meme coins are now converting cultural items into assets, cultivating narratives and community excitement around real-world symbols.

The post Dogwifhat Knitted Hat Sells for Nearly $800,000 at Auction appeared first on 99Bitcoins.

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