Shiba Inu (SHIB) Completes a Major Milestone: 20K NFTs Claimed

TL;DR

• SHEboshi NFTs, associated with Shiba Inu (SHIB), sold out in under three hours post-launch, with all 20,000 collectibles claimed before the public minting phase.
• Initially set at 0.05 ETH each, the SHEboshi NFTs now have a floor price of 0.175 ETH on OpenSea.

The popular meme coin Shiba Inu (SHIB) blasted through another huge milestone, this time related to the non-fungible token field. Data shows that SHEboshi NFTs were sold out less than three hours after the conclusion of the second phase of the minting process. 

Interesting, #Sheboshis sold out in less than 3 hrs #Shibarmy … https://t.co/4aWUUuC8yx pic.twitter.com/qEwIDChPW7

— Jolt (@Jolt_yourday) February 23, 2024

The team behind Shiba Inu recently informed that the distribution of the 20,000 digital collectibles will include three stages: free claim for Shiboshis holders, exclusive access to LEASH holders, and public mint. The third phase will not occur due to the aforementioned development.

The cost of minting a single NFT was set at 0.05 ETH, excluding gas fees. Currently, SHEboshi collectibles can be traded on OpenSea at a floor price of 0.175 ETH, thus boasting a total value of over $10 million.

This is not the first time Shiba Inu-related non-fungible tokens have made the headlines. In 2021, the team behind the meme coin launched 10,000 digital collectibles representing “lovable creatures” (the Shiboshis).

The NFTs were minted in mere minutes, causing a severe wave of demand. The starting cost of a digitized creature hovered between 0.1 ETH and 0.3 ETH. However, the floor price skyrocketed above 1 ETH shortly after.

The hype surrounding the collectibles gradually decreased in the following months, with their cost plunging by over 70% in Q2 2022. 

Currently, the floor price for Shiboshi NFTs is around 0.172 ETH (an 85% decline compared to the all-time high levels from November 2021).

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