Nate Wiggins has an ideal size for his position along with good length, giving him an optimal build. 
He has good acceleration and is fast, though not elite in this aspect. He has enough top end speed to minimize separation on vertical routes but not enough to always keep up with the receiver. Wiggins is more akin to a 200m runner than a 100m sprinter, achieving his maximum speed more effectively at the end of very long routes or when chasing a RB over 40,50 yards rather than on more traditional vertical routes.
His competitive spirit is noteworthy; he never gives up on a play, even if it means chasing a RB over 50 yards to try and force a fumble, and he never quits on a game, as seen in his performance against UNC where he struggled against WR Dez Walker but made a big play to seal the game.

Technically, he is generally sound but not always fluid; his neutral backpedal is adequate but a bit high for his build, with inconsistent coordination and sometimes stiff transitions and hips, mainly due to his size.
His major physical drawback is a significant lack of muscular power in both his upper and lower body.

This lack of power poses significant challenges in press coverage, where he is often dominated at the initial punch, losing the advantage, leading to difficulties in pursuit as he is often overpowered by physical receivers who create separation with their arms and strength (e.g., Colbie Young, Miami, and Devontez Walker, UNC). It usually takes one such instance in a game before he becomes more aggressive and somewhat compensates for his lack of muscular power to avoid being overpowered.

In off-man coverage, he exhibits excellent qualities, demonstrating patience and near-perfect technique as his kick-slide is very effective. He manages the tempo of his runs and transitions well.
Wiggins is less "grabby" in off-man than in press or zone coverage.
He has good footwork, explosiveness, and agility, aiding in a strong closing speed.

In zone coverage, he needs to be more precise and active in his footwork, which has sometimes led to issues on direction changes. However, he has a strong click-and-close ability, helping him cut off routes to defend passes.
He shows a good understanding of opposing receivers' routes but could be more aggressive on inside routes, often appearing hesitant and lacking confidence.

Though he has good reads and generally tracks the ball well, except when playing with his back to the action where he struggles to turn and have a real chance at an interception, his ball skills and turnover creation are not exceptional.

His lack of power severely affects his run support, struggling to shed blocks, often being taken to the sideline, allowing opposing RBs to exploit gaps.
Technically, his tackling is usually clean; he's not afraid of contact and is a solid open-field tackler. 

Nate Wiggins is an interesting prospect due to his young age (he will be 21 during his rookie season), technical skills, and ideal size for the position;
He will need time to develop in terms of power and on-field impact. There's room for improvement in his muscular strength without significantly affecting his other athletic traits.
Seeing him in press coverage on day 1 in the NFL seems unlikely, as well as against the league's physical receivers. Not having been a focal point for opposing offenses in his last CFB season, he is unlikely to be so in his first NFL year.
With Wiggins, one is primarily investing in a technically skilled player with a good IQ to be developed physically. While he may not necessarily become a dominant CB1 in the league, he could be a very good CB2 or even a solid CB1 if everything goes well. A usage in both man and zone coverage is conceivable, though a zone-centric system might suit him better.
I estimate his value as an early second-round pick due to his youth and potential for development; otherwise, he might have been considered for a mid-to-late second-round pick.