Non-fungible tokens continue to create headlines, but not all projects seem to be able to sustain their past prices. The Shiboshis, a highly publicised drop that occurred last year, are down more than 70% from their all-time high.
This is the Shiba Inu team’s official NFT project, one of the most popular memecoins. The auction took place in November 2021, and each NFT was priced differently, ranging from 0.1 ETH to 0.3 ETH. At the time of writing, the collection’s floor price is 0.65 ETH, which is unquestionably a good return.
However, it’s worth noting that the current rate is more than 70% lower than the all-time high of the average selling price, which reached on November 6th. According to OpenSea statistics, the average price for Shiboshis at the time was 2.5 ETH.
This is most likely due to SHIB’s general negative price movement in recent months. In fact, the cryptocurrency is trading 71% below its all-time high. It’s also worth mentioning that SHIB is up 44 million percent from its all-time low, which was set more than a year ago.