WARNING: The following contains spoilers for Season 5, Episode 3 of Riverdale, "Chapter Seventy-Nine: Graduation," which aired Wednesday on The CW.

The latest episode of Riverdale, "Chapter Seventy-Nine: Graduation," was the series' final chapter before the upcoming seven-year time jump. As Archie, Betty, Veronica, Jughead and the rest of their friends graduate from high school, they contemplate leaving their hometown to head off to college. With such a big change on the horizon, these are the last few moments they will spend together as a tight-knit group of friends. Before the episode comes to a close, Archie joins the army, Betty and Veronica leave Riverdale and Cheryl takes control of her family dynasty. But perhaps no change is more noteworthy than Jughead finally letting go of an iconic piece of his ensemble: his crown-inspired beanie.

RELATED: Riverdale Creator In Talks For Another Spinoff Series

riverdale-season-5-episode-3-archie-jughead-time-capsule

At the start of Riverdale's latest episode, before the graduation ceremony, the students unearth an old time capsule buried decades ago as part of a traditional ceremony. Then, after Archie and his friends have finally graduated, it's their turn to keep the tradition alive by burying a time capsule of their own. Everyone leaves an item in the box that means something to them: a signed football, a Pop's menu, a program for one of the school's musicals, a hammer. And when it's Jughead's turn, he takes his signature beanie off and drops it into the capsule.

This is a big, decisive move for the character, who essentially has relinquished something that has defined him ever since the series' pilot. Riverdale is a modern, gritty take on the Archie Comics characters. In the comics, Jughead is famous for wearing a grey paper crown on his head. And while this didn't make sense for the CW series' version of Jughead, the show honored the character's comic-book look by having him wear a beanie that emulates that crown.

RELATED: Riverdale: Archie's Season 5 Future Homages a Major Archie Comics Story

On the series the beanie became iconic, and as much a signature of Jughead as the crown is of the character in the comics. But now, before heading off to college, Jughead lets go of his beanie, demonstrating that the character is letting go of his high-school self as he contemplates a new beginning -- and that he is growing into an adult.

But let's be honest -- Jughead simply wouldn't be Jughead without that beanie. Therefore, the question has to be asked: when Jughead returns to Riverdale and he and his friends get roped into yet another mystery, will he dig up the time capsule and put it back on?

Riverdale stars K.J. Apa as Archie Andrews, Lili Reinhart as Betty Cooper, Camila Mendes as Veronica Lodge, Cole Sprouse as Jughead Jones, Madelaine Petsch as Cheryl Blossom, Casey Cott as Kevin Keller, Mark Consuelos as Hiram Lodge, Charles Melton as Reggie Mantle, Vanessa Morgan as Toni Topaz, Mädchen Amick as Alice Cooper and Erinn Westbrook as Tabitha Tate. New episodes of Season 5 air Wednesdays at 8 p.m. ET/PT on The CW.

KEEP READING: Where Riverdale Leaves Archie, Betty, Veronica & Jughead, Pre-Time Skip