Shiba Inu NFTs (Shiboshis) Down 70% Since Their ATH

Non-fungible tokens continue to make headlines, but it seems that not all projects can maintain their previous valuations. One particularly hyped drop that took place last year – The Shiboshis – is down over 70% since all-time high. This is the official NFT project of the Shiba Inu team – one of the most popular memecoins.

CryptoPotato reported earlier in 2021 on the Shiboshis: a collection of 10,000 non-fungible tokens depicting ‘lovable creatures.’
The sale took place in November 2021, and each NFT was minted at a different price spanning from 0.1 ETH to 0.3 ETH.
At the time of this writing, the floor price of the collection sits at 0.65 ETH, which is undoubtedly a good return.
However, it’s interesting to note that the current rate is over 70% below the all-time high of the average sale price that was seen back on November 6th.
Back then, the average price that Shiboshis were going for was 2.5 ETH – according to data from OpenSea.
This has probably much to do with the overall depressing price action of SHIB in the past months. In fact, the cryptocurrency is trading 71% below its ATH.
Of course, it’s also worth noting that SHIB is up 44 million percent from its all-time low that was recorded over a year ago.