The value of Shiba Inu NFTs has increased 20x

The value of Shiba Inu NFTs has increased 20x

The lowest price of the NFTs of Shiba Inu, which is one of the most rising coins in the last 1 month and has the biggest share in the formation of a phenomenon token frenzy all over the world, has increased to 1.2 ETH. The price spike came after 20 million transactions were made of the tokens on the famous decentralized marketplace OpenSea.

The price increase in the Shiba Inu (SHIB) phenomenon was also reflected in the NFTs of the token. 3600 users with Shiba Inu NFTs in OpenSea made a total of 7,600 ETH worth of SHIB NFT transactions.

As it will be remembered, the developers behind the Shiba Inu (SHIB) cryptocurrency made an NFT sale announcement in mid-October and stated that they planned to create 10,000 NFTs called Shiboshis. At first, products could only be purchased with LEASH, but later Ethereum transactions were also opened.

NFT prices went in parallel with a token price

The entire Shiba Inu collection was produced in less than 35 minutes, and after the collection was completed, where each wallet was able to create 10 NFTs at prices between 0.1 ETH and 0.3 ETH, the value of the tokens started to increase significantly. The reputation of Shiba Inu NFTs began to increase with the value of the crypto asset. SHIB, which has increased more than 10 times in the last 3 months, has started a big march as important token burns combined with a small investor spree.

Musk’s response didn’t drop it either.

As you can remember, in the past weeks, a follower asked SpaceX and Tesla CEO Elon Musk whether he had any SHIB in his hand. Although the phenomenon experienced a 10% decline in the cryptocurrency after Musk’s “None” answer, it continued its massive upward movement afterward.

Musk also answered the question asked about different phenomenon token, Floki Inu, by saying,

“I only have Bitcoin, Ethereum, and Dogecoin.”

Some token pools on Shiba Inu’s ShibaSwap exchange also completed a burning mechanism, and the burned coins were completely deleted from circulation.

SEE ALSO: What is MetaMask Digital Wallet?

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