Shiba-inu, wearing a knitted hat, became the main meme of 2019. In fact, the animal’s name is Achi, but thanks to the creation of the Dogwifhat meme, it has become more often associated with this nickname. It is no secret that meme coins are not so popular now, as they were a year or two ago. Perhaps for this reason, Achi’s owner decided to auction off the main attribute of his pet.
He put up the Dogwifhat accessory for sale for 21.1 million BTC, which is worth about $2.46 trillion. But still, the knitted hat was purchased, albeit not for this, but still a huge amount. The founder and CEO of the meme coin launch platform Bags, known as Finn, said he wanted to «return the hat to the» community. And he paid 6.8 BTC ($792,696) for it.
I’m excited to announce that @BagsApp has made its first acquisition.
We’ve acquired a $1B hat for just $0.7M
Get ready for what’s coming next. pic.twitter.com/jiOGyar6tq
— FINN (@finnbags) August 7, 2025
The auction took place on the Bitcoin ordinals platform Ordcity. Finn competed with two other bidders known as Gr3g and X:md96178.
The Bags founder estimated the Dogwifhat attribute at $1 billion. He also claims to have bought the hat using commissions associated with a token from Bags called Buy the Hat, plus some of his own money. After the successful bid, Finn added the hat to the Bags logo. The Buy the Hat token grew by 292% and reached a market capitalization of $6.37 million in 10 hours (it was $1.62 million).
At the time of writing, dogwifhat (WIF) has slightly increased in price — to $0.9578 (+2.66%).
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