Bitcoin News Today: Bids for Dogwifhat Pink Cap Hit $800K in Bitcoin as Meme Turns Luxury Crypto Asset

Bids for a physical knitted cap famously associated with the Dogwifhat meme have surged to over $800,000 in Bitcoin, marking a unique convergence of internet culture and cryptocurrency [1]. The cap, originally a Christmas decoration, gained widespread attention when Achi’s owners placed it on the dog’s head and shared a photo in November 2018. That moment launched a meme phenomenon and eventually inspired a crypto token that became a global sensation [1].

The cap’s provenance has been authenticated and recorded on the Bitcoin blockchain via the Ordinals protocol, ensuring verifiable ownership and history. The auction includes additional artifacts such as high-resolution images, a handwritten verification note, and a video tracing the cap’s journey from a simple decoration to a symbol of digital culture [1]. Notably, the owners have confirmed this will be the only public sale of the cap, amplifying its scarcity and appeal among collectors [1].

The digital Dogwifhat NFT previously sold for 1,210 ETH, equivalent to approximately $4.3 million at the time, highlighting the growing value of meme-based digital assets [1]. The sale of the physical cap underscores the enduring influence of internet-driven collectibles, now entering the realm of high-value crypto transactions. Collectors and investors alike are drawn to the blend of nostalgia, digital innovation, and exclusivity that this item represents [1].

This event reflects a broader trend where internet memes evolve into marketable assets, often with substantial financial value. As the cap heads toward its final sale, it stands as a rare artifact bridging the gap between viral culture and blockchain-based ownership [1].

Source: [1] Bids for the DogWifHat Pink Cap Reach $800K in Bitcoin (https://coinmarketcap.com/community/articles/6895e7e1e21b950c870dd2db/)