The meme coin Dogwifhat ($WIF) originated from a viral image of the Shiba Inu Achi wearing a pink knitted hat. Due to its humorous and cute style, it spread widely on social media, reaching a market capitalization of billions of dollars. Recently, Achi's family auctioned this iconic hat, attracting FINN, the founder of the Solana asset issuance platform Bags, who issued tokens and promised to purchase the hat, driving the token's market cap up to $4.24 million. However, a Chinese KOL bid high at 100 bitcoins (approximately $11.65 million, equivalent to 347 million TWD), raising the question of what value this hat possesses to attract such high bids from buyers.
The Dogwifhat prototype knitted hat is being auctioned in BTC
The meme coin Dogwifhat ($WIF) prototype is an image of a Shiba Inu named Achi wearing a pink knitted hat. The image became widely known for its absurdly cute style, including spelling mistakes like 'dog wif hat'. The image began circulating on social media platforms such as Reddit and Twitter around the end of 2020, and the WIF market cap reached billions of dollars at its peak.
Recently, Achi's family auctioned the hat that Achi was wearing at the time on a website. The winning bidder not only receives the hat itself but also gets previously unpublished photos of Achi, as well as a recent photo of him standing next to the hat, accompanied by a handwritten and dated verification note for authenticity.
Chinese KOL bids 100 BTC for the WIF hat
FINN is the founder and CEO of the Solana asset issuance platform Bags. Recently, he shared a token on Twitter and promised that the money earned from this token would be used to purchase Achi's hat. Following the news, the market cap of the token issued by FINN was speculated to soar to $4.24 million, and bidding activity from finn.bags could also be seen on the auction website.
Unexpectedly, the Chinese KOL, remaining calm and composed, bid 100 bitcoins (approximately $11.65 million, roughly equivalent to 347 million TWD) to secure the hat, which caused FINN's token to retract to a market cap of around $2 million.
It turns out that there was a loophole on the auction website at that time, where bidding 100 bitcoins only required a deposit of $2,900. After the incident, the website has changed its deposit regulations, and now a bid requires a deposit of 0.82 bitcoins ($95,571). At the same time, the platform also deleted bidding records, and by the time of this report, the auction price was 8 bitcoins.
This article is reprinted with permission from: (Chain News)
Original title: (The World's Most Expensive Hat Auctioned for 347 Million! Chinese KOL Bids 100 BTC for Dogwifhat Meme Prototype Hat)
Original author: Neo
The article 'The Most Expensive Hat in the World! Chinese KOL Bids 347 Million TWD for Dogwifhat Meme Prototype Hat' was first published on 'Crypto City'
