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

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

Coinspeaker2025/08/07 16:00
By: By Tristan Greene Editor Marco T. Lanz
BTC-1.88%WIF-4.21%SHIB-3.68%
A pink knit cap tied to the dogwifhat meme coin fetched nearly $800,000 in a Bitcoin auction, sparking price rallies for both WIF and SHIB coins.

Key Notes

  • BAGS platform founder purchased the authenticated dogwifhat memorabilia for 6.8 Bitcoin after intense bidding competition.
  • Both WIF and SHIB meme coins experienced 5% price surges following the high-profile auction's conclusion on August 7th.
  • Trading volumes jumped significantly with SHIB up 39% and WIF up 23% as viral moments continue driving market momentum.

A pink knit cap associated with the dogwifhat WIF $1.01 24h volatility: 4.9% Market cap: $1.01 B Vol. 24h: $260.28 M meme coin was sold in an online auction hosted by OrdCity on August 7, with a winning bid of 6.8 Bitcoin BTC $116 753 24h volatility: 0.3% Market cap: $2.32 T Vol. 24h: $28.38 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.

Pink Shiba Inu Hat Associated With Dogwifhat Sells For $799K at Auction image 0

A dog wearing a pink knit cap | source: @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 $0.000014 24h volatility: 5.8% Market cap: $8.14 B Vol. 24h: $253.60 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%.

Pink Shiba Inu Hat Associated With Dogwifhat Sells For $799K at Auction image 1

24-hour trading activity for Shiba Inu | Source: TradingView.

Pink Shiba Inu Hat Associated With Dogwifhat Sells For $799K at Auction image 2

24-hour trading activity for Dogwifhat | source: TradingView.

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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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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