Dogwifhat Knitted Hat Sells for $800,000 to Founder of Meme Coin Launchpad
Main Idea
A knitted hat associated with the meme coin Dogwifhat sold for $792,696, with the highest bidder being the founder of meme coin launchpad Bags, who aimed to return the hat to the community.
Key Points
1. The hat was sold for 6.8 BTC ($792,696) in an auction, with the winning bid from Finn, CEO of Bags.
2. Finn plans to give the hat 'back to the community' and teased upcoming developments for Bags.
3. The sale caused the token 'Buy the Hat' to surge 292% in market cap, though it later dropped 25%.
4. Dogwifhat (WIF) was a popular Solana meme coin, peaking at a $4.58 billion market cap in March 2024.
5. The hat originated from a photo of a Shiba Inu named Achi, whose owners initially planned an NFT auction on Ethereum but faced backlash from Solana supporters.
Description
Bags Wif Hat? The founder of a rising token launchpad bought a meme coin-linked knitted hat for nearly $800,000—here’s why.
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