Dogwifhat Hat Fetches 6.8 BTC, Boosting WIF Meme Coin
On August 8, the original Dogwifhat Hat—the knitted beanie that inspired the WIF meme coin—sold for 6.8 BTC (≈$793,000) on Ordcity’s Bitcoin Ordinals platform. The landmark Dogwifhat Hat sale underlines growing demand for crypto collectibles and narrative-driven assets. After inscription via Bitcoin Ordinals, the WIF token jumped 5.7% in 24 hours, trading near $0.96 as volume surged 74%. With a market cap of $296 million, WIF remains 80% below its $4.83 high. BagsApp founder Finn, the auction winner, hints at future Dogwifhat projects. This milestone may boost meme coin liquidity and trader focus on digital and physical collectible markets.
Bullish
The 6.8 BTC sale of the Dogwifhat Hat has galvanized demand for both the physical collectible and its associated WIF token. The instant 5.7% price rise and 74% volume surge demonstrate strong short-term trader interest. Long term, growing adoption of narrative-driven crypto collectibles and high-value auctions should sustain WIF liquidity and positive sentiment, reinforcing a bullish outlook.