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Nah, 1.77 is about right. Not many people like or want the hat. I ended up selling mine for 1.66, and that took 3 days which is a long time for me.
It's an alright hat, but I can't see it going higher than 1.77 unless demand picks up.
Doing a quick current search on TF2OP, there is little demand for this (2 active trades) and the prices willing to pay aren't even as high as 1.77.
I've seen it on /r/tf2trade as 2 ref, i guess the price varies between sites?
But still. People just dont want the hat.