Expensive Pink Shiba Inu Hat Sold at Auction for $799,000 by Dogwifhat
In an exciting turn of events, Finn, the founder and CEO of the BAGS trading platform, has made a significant investment that could strengthen the ties between his meme coin launchpad and the WIF meme coin.
On August 7, an online auction took place for a pink knit cap, popularly known as the dogwifhat, associated with the WIF meme coin. The hat, originally worn by Achi, the Shiba Inu mascot whose viral photograph inspired the WIF token, was sold for 6.8 Bitcoins, which was worth nearly $795,600 at the time.
Finn, who is notably connected to the dogwifhat and the WIF meme coin through a high-profile purchase in early 2025, made the winning bid. The funds for the purchase were primarily sourced from fees generated by BAGS platform’s native meme token, $BTH.
Following the auction, Finn updated the BAGS platform branding to feature this iconic memorabilia. He also launched an incentive: a $250,000 reward for the first meme coin launched on Bags to surpass $10 million market cap, aimed at stimulating community hype and speculation.
This strategic move could potentially merge symbolic cultural artifacts with blockchain assets in the BAGS ecosystem, deepening its connection with the WIF coin narrative.
The auction was accompanied by a skyrocketing token burn rate for Shiba Inu, resulting in a 2% gain. The dog-inspired meme coin also experienced a 5% price surge following the auction. Similarly, the WIF meme coin saw a 5% price surge and a trading volume increase by 23%.
It's important to note that this article does not provide financial or investment advice. Readers are encouraged to verify information and consult with a professional before making decisions based on the content.
As of this article’s publication, Shiba Inu is down about 6% over the previous week. The 24-hour trading activity for Shiba Inu and Dogwifhat, as reported by TradingView, were [specific amounts].
The authenticity of the hat was confirmed by Achi, the dog whose viral photograph inspired the WIF coin, and OrdCity.
Finn's visionary approach to merging meme culture with blockchain assets could potentially set a new standard for meme coin launchpads, making the BAGS platform a force to be reckoned with in the competitive meme coin market.
- Finn's strategic investment from the BAGS platform's native meme token, $BTH, into the WIF meme coin, combined with his purchase of the dogwifhat, could foster a unique synergy between finance, technology, and sports within the meme coin industry.
- The launch of a $250,000 reward for the first meme coin on BAGS to reach a $10 million market cap represents Finn's ambition to infuse the realm of sports-inspired meme coins with the power of finance and cutting-edge technology, potentially revolutionizing the meme coin market.
