The Dogwifhat fabric hat is sold for USD $ 800,000 at an auction

The famous hand -handed pink hatch Achi, who inspired the memecoin wif, It was acquired by the BAGS platform at an auction that generated great expectation in the crypto community.

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• The hat was sold by 6.8 BTC, equivalent to USD $ 794,074.
• The purchase was made by the founder of Bags, partially financed by an own token.
• The iconic accessory had already inspired a sale NFT millionaire in 2024.

The hand -fabric pink hat that turned the dog Siba Inu called Achi on an Internet icon was auctioned this week for about 6.8 BTC, currently valued at USD $ 795,600, through the market of Bitcoin Ordinals, Ord City.

The winner of the auction was “Finn”, pseudonym of the founder of the platform Bagsto launch Memecoins in Solarium, who made the purchase on behalf of the project. The bid was at odds, with two outstanding competitors during the 48 -hour event.

“I am excited to announce that Bags has made its first acquisition”published Finn in X after the closing of the auction, adding the image of the hat to the platform avatar. “We have acquired a USD $ 1 billion for only USD $ 0.7 million. Prepare for what is coming.”

Sorry for the late congratulations @finnbags 🥹✨ pic.twitter.com/rmiepueqkx

– Achichu (@achichuchu) August 8, 2025

Auction with setbacks

During the auction, multiple false offers were recorded, including one for the equivalent of 21 million BTC which make up the total supply of Bitcoin. This forced to Order city To pause the event and raise the collateral requirement to avoid more fraudulent attempts.

Bags, whose model allows tokens emitters to share trading commissions with users in X, used part of the profits obtained by the Token “Buy The Hat” —Despleted on its platform – to finance the purchase. Finn said he will seek that the hat “Return to the community in some way”, Possibly linking the Token to the object.

In the last 24 hours, the aforementioned Token has revalued more than 700%, reaching a market capitalization of USD $ 7.8 million, according to Dex Screener.

The origin of the phenomenon Dogwifhat

The meme Dogwifhat began to viralize in 2020 in forums such as Reddit and x (Twitter At that time), but its original image dates from November 2018, when Achi was photographed with the hat that its owners had woven as Christmas ornament.

The cryptocurrency Wif, based on Solarium, It was launched at the end of 2023 and was directly inspired by the popularity of the meme. To certify the authenticity of the hat, Order city He disseminated high resolution photos and a video that documents the origin of the meme and the origin of the accessory.

“This hat has been a good luck and a piece of internet culture that has traveled between chains, times and communities,” The owners affirmed in X. “He has inspired memes, conversations and connections between people who share love for the dog with a hat. We hope he brings the same fate and fun to his new home.”

A millionaire history in NFT

Although the figure reached in the auction is considerable, it is far from the income obtained by the owners in March 2024, when they sold the original photo of Dogwifhat as NFT.

That bid, made in the market Foundation, ended with a winning offer of 1,210.8 Eth —It around USD $ 4.3 million at that time and USD $ 4.7 million at current prices – made by the Crypt Trader Gigantic Rebirth Ventures.

Currently, WIF It quotes USD $ 0.92, with a 3.2% rise in the last 24 hours, according to market data at the time of editing. However, after the cooling of the fury for the memecoins, the Token has lost more than 70% of its value from the maximum reached at the time of sale Nft, although its market capitalization remains close to USD $ 1 billion.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image, created with artificial intelligence, for free use, licensed under public domain

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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