The base price for native NFTs of the Shiba Inu (SHIB) ecosystem is currently over 1.2 ETH after these tokens were traded on the popular decentralized NFT marketplace OpenSea. Nearly $20 million worth of NFTs were traded on OpenSea.
High interest in Shiba Inu NFTs!
According to the platform’s data, 3,300 owners of Shiba Inu NFTs known as Shiboshis have traded NFTs worth 5,000 ETH after launch earlier this month. Cryptocoin. com, the developers behind Shiba Inu announced their NFT token sale in mid-October. These tokens could be purchased with both ETH and LEASH tokens, and a total of 10,000 were created. Each wallet could print a total of 10 NFTs, each ranging from 0.1 to 0.3 ETH. The entire collection was minted in less than 35 minutes, and soon the price of Shiba Inu-themed tokens began to rise.
Meanwhile, the popularity of Shiba Inu’s NFTs is growing along with the price of the cryptocurrency. According to the data, the price of Shiba Inu’s token has increased by over 600 percent in the past three months due to the retail spree fueled by the cryptocurrency’s circulating supply facing token burns. Also, after a backer asked Tesla and SpaceX CEO Elon Musk how much SHIB he was holding, SHIB’s trading volume rose enough to rival that of Ethereum.