The act of figuratively losing your hair (wig) in response to a particularly amazing or shocking information or situation, to signify that you nearly lost your shit. The imagery is that said wig a) flies through the air; b) may interfere with air traffic if a group of wigs are snatched; c) may be seen from space if reacting to really fantastic events or information. This is deadass the highest form of reaction. Antonyms include Low-key
When BigHit Entertainment dropped the comeback date for BTS with no warning, they were snatching wigs AGAIN and sent them into orbit.
When John Cena stanned kpop, he was basically snatching wigs off nearly every fandom.
At Coachella, when the shadows of Destiny's Child appeared, Queen Bey & company were snatching wigs off everyone in attendance, those watching online, and those who hadn't even seen it yet.