Shiba Inu (SHIB) NFTs Surge as Floor Price Now Sits Above 1 ETH

It appears that everything related to the Shiba Inu (SHIB) cryptocurrency is appreciating in value over the past couple of weeks. Now, the Shiboshis are also seeing a strong wave of demand.

  • As CryptoPotato reported earlier in October, Shiboshis represent the native non-fungible tokens (NFTs) of the Shiba Inu ecosystem.
  • These are 10,000 digitized creatures that were set for sale about ten days ago and caused a serious wave of demand.
  • Based on the official post, the NFTs cost between 0.1 ETH and 0.3 ETH depending on when people minted them, and each wallet could mint only a maximum of 10 Shiboshis.
  • The entire thing was over in less than 35 minutes, and, just as many people guessed, the Ethereum fees skyrocketed, and users reported minting fees upwards of $700 per one NFT.
  • Nevertheless, the event was successful, and we also saw the subsequent listing on the secondary markets.
  • Right now, Shiboshi holders can enjoy profits in the range between 300% and 900%, depending on when they managed to mint.
  • This is because the floor price of the Shiboshi NFT series on OpenSea currently sits at around 1.1 ETH – up more than 30% in the past few days alone.
  • This is how some of the Shiboshis look like:

shiboshi_nfts_coverSource: OpenSea

Publication date: 
10/25/2021 - 15:16

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.