Pink Shiba Inu Hat Associated With Dogwifhat Sells For $799K at Auction

A pink knit cap associated with the dogwifhat WIF $0.97 24h volatility: 4.7% Market cap: $971.61 M Vol. 24h: $294.62 M meme coin was sold in an online auction hosted by OrdCity on August 7, with a winning bid of 6.8 Bitcoin BTC $116 448 24h volatility: 0.9% Market cap: $2.32 T Vol. 24h: $35.52 B worth nearly $795,600 at the time.

The hat, considered a valuable piece of cryptocurrency memorabilia by some, was purchased by “Finn,” founder of the BAGS trading platform, after a 5-hour bidding period. Its authenticity was confirmed by the account for Achi, the dog whose viral photograph inspired the WIF coin, and OrdCity on X.

After the auction closed, Achi’s handlers posted a message congratulating Finn on the win. The hat, they wrote, “has been a lucky charm” and “a piece of internet culture that has traveled across chains, timelines, and communities.”

Both WIF and Shiba Inu SHIB $0.000013 24h volatility: 4.8% Market cap: $7.79 B Vol. 24h: $330.14 M — another dog-inspired meme coin not directly related to WIF — rose as much as 5% in the hours after the auction and remain up around 2% as of this article’s publication. Trading volume also increased for both coins during the same period, with SHIB up 39% and WIF up 23%.

SHIB and WIF have a history of demonstrating positive market movement after viral moments. As Coinspeaker reported in 2024, a shoutout on X from tech billionaire Elon Musk sent the price of WIF up more than 2%.

Meanwhile, SHIB is currently in the midst of a rebound after a rocky 30-day period. The auction bump accompanies a skyrocketing token burn rate that contributed another 2% gain as SHIB remains on the road to recovery. As of this article’s publication, SHIB is down about 6% over the previous week.

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