The original Doge meme NFT has soared to a valuation of around $220 meg, following its successful fractionalized token sale this week.

Ludicrously high prices for in-demand NFTs are the flavor of the calendar week, with Sotheby'southward new Bored Ape Yacht Gild NFT auction predicted to fetch upwardly to $18 million.

Before this week, Doge meme owner PleasrDAO fractionalized the NFT into 17 billion ERC-twenty tokens named Domestic dog, and auctioned off 20% of them on SushiSwap-owned Miso on Sept. i.

The Canis familiaris tokens snapped up in the auction can now be traded via decentralized exchanges such as SushiSwap and Uniswap. The auction generated eleven,942 Wrapped Ethereum (WETH) (worth around $44.6 million) from a full of 1,769 buyers.

Given the total supply of Dog tokens —  which are priced at 0.0000035186 WETH ($0.013) at the time of publication — the nominal value of the Doge NFT is now around $220 1000000.

But some say that's an underestimate. According to fractionalized token platform Partial, the implied value of the Canis familiaris NFTs is a whopping $398 1000000. The firm hasn't specified how that figure was calculated.

Whether $220 million or $398 1000000, information technology'due south a stunning return for a flick of a domestic dog bought for just 1696.9 Ether (worth $4 million) dorsum in June.

PleasrDAO has said 55% of the remaining tokens will be maintained past the DAO and the other 25% volition go into a fund that volition support projects in the DOG customs.

Related: Dogecoin Foundation demands copycat meme coin 'Dogecoin 2.0' change its proper noun

Apes are not a bore for Sotheby's

Meanwhile, Sotheby'south is hosting an auction of 107 Bored Ape Yacht Club NFTs that is expected to fetch between $12 meg and $18 1000000.

The 107 NFTs take been arranged into one collection and put up for sale by the project'southward creators, Yuga Labs — which as well auctioning off a bundle of 101 Bored Ape Kennel Club NFTs that is expected to pull in between $1.5 million and $2 meg.

Yuga Labs sale. Source: Sotheby's

Behest for the Bored Ape Yacht Lodge collection has reached $4.5 million at the time of publication, and the sale is fix to close on Sept. 10. Bidding for the Kennel Club NFTs hit $480,000.

The Bored Ape Yacht Gild NFTs have become widely popular of late, and Cointelegraph reported on Sept. two that NBA star Stephen Back-scratch joined in on the action past snapping up one of the NFTs for 55 ETH, worth roughly $207,000 at the time of writing.

According to data from CryptoSlam, the Bored Ape NFTs generated a record $295 one thousand thousand worth of sales on secondary markets in August. Despite it only existence the beginning of September, the NFTs have already reached $10 1000000 worth of secondary sales so far.