TLDR:
- Market: BUY THE HAT ($BTH) current market capitalization stands at a record high (ATH) of $5.52 million and is currently at $4.7 million on 8th August, 2025, with a 24-hour trading volume of $19 million.
- Narrative: Dogwifhat’s original pink hat was grabbed by @finnbags, the creator of BAGS.FM, for 6.8 BTC, or $794,228.37. The $BTH trading fees laid the groundwork for the bidding in order to capitalize on the meme space’s interest in internet legend and to fuel growth potential.
BUY THE HAT ($BTH), contract address ESBCnCXtEZDmX8QnHU6qMZXd9mvjSAZVoYaLKKADBAGS, has been the energizer of the Solana meme coin world, with an all-time high market cap of $5.52 million, the present market cap being $4.7 million, with a whopping 24-hour level of volume of $19 million on the 8th of August, 2025. Conceived on the low-fee, high-speed Solana blockchain, with the word-of-mouth strength handed down from the infamous sale of the legendary pink hat of the Shiba Inu behind the Dogwifhat meme, acquired by @finnbags, the mastermind behind BAGS.FM, for 6.8 BTC ($794,228.37), with the trading fees for the $BTH being channelled towards funding the subsidizing of the bid, the coin is the embodiment of the meme world’s infatuation with internet artifacts, positioning it for potential spikes.
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The $BTH’s story is concurrent with the Dogwifhat phenomenon, which was due to a 2019 viral image of Achi wearing a pink knit beanie. The actual hat, a meme product, came up for sale on 1st August 2025, X-posted by @achichuchu, to global interest. @finnbags, the driving force behind BAGS.FM, bid up the trading fees of $BTH to buy the hat, buying it for a total of $794,228.37, as per an August 8 X post showing BAGS.FM buying a “$1B hat for just $0.7M.” Released on Pump.fun, the tale of the $BTH being a community buy to get a cultural item is a cue to traders, drawn by the functionality of BAGS.FM to allow creators to customize fee splits, a stimulus towards creator participation. This is a continuation of DogWifoutHat ($WIFOUT)‘s narrative, launched when the pink hat first got on the auction site.
Its 19 million trading volume confirms the market frenzy even after a minor dip from its ATH, the hallmark of memecoins’ volatility. The general market buzz around meme tokens, spurred by initiatives like LetsBonk, vouches for the potential of $BTH, even though threats like pump-and-dump operations await it. Speculators tempted by the Dogwifhat heritage and @finnbags’ intense buying have the high-risk offer of going with a memecoin of steep growth prospects on Solana’s robust ecosystem.
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