The floor price of Shiba Inu’s Shiboshi NFTs spiked by 36% to 1.34 ETH after it was given its own Locked Pairing within the ShibaSwap DEX.
As announced in the Shiba Doggy DAO launch, 5% of the allocated BONE will now go towards the 10,000 Shiboshi NFTs, granting owners a passive income.
Here’s a look at what happened.
Doggy DAO Announcement Drives Shiboshi NFT Price
On the day before the Shiboshi NFT and Doggy DAO announcement, the floor price was hovering around 0.9 ETH. Its volume - often a more accurate way to track project interest - was 15.728 ETH, coming from 16 sales.
However, this changed after the DAO announcement and reveal of the Shiboshi as a Locked Pairing. As stated in the blog post:
We are happy to introduce a SHIBOSHI 5% of the BPB (Bone Per Block) designated to Liquidity Pools, which will now form part of the locked pairs.
76 Shiboshi NFTs were sold on February 18 - the day of the announcement - for a total of 91.22 ETH. In the following two days, 84 more Shiboshi NFTs were sold for a combined 106.4 ETH. With a volume of 197.6 ETH, more Shiboshis (158) sold in 3 days than in the last week combined.
However, the floor price has since dropped back to 1 ETH, although volume and activity still appear to remain high. Potential fears after the OpenSea phishing attack over the weekend may have deterred some potential buyers from making the purchase.
Since the ShibaSwap announcement, the most expensive Shiboshi sale was for 5 ETH - or $13.6k. Several Shiboshi holders took the news to flip their NFTs for a large profit. One holder known as IvanNFTInvest listed 58 Shiboshi NFTs in the space of five hours.