@0xShual@pranksyNFT@beaniemaxi@DerpyBirbsETH@opensea 1. Yeah that's how it works. I saw pranksy, stronghands and some others bought, before his tweet, so I bought as well.
2-3. The data is slow to update, but it doesn't look like that on my side for derpy birds.
@0xShual@pranksyNFT@beaniemaxi@DerpyBirbsETH@opensea 4. Flippers are selling and exit liquidity is buying, so yes. 5. Yeah there's people buying the floor as they will shill. 6. People buy panic sold rares, since they are going to hold and shill. I didn't buy in this case, but yes that's what they do.
1. As more users enter NFTs, more liquidity is present allowing for quicker parabolic price action. Most of this liquidity is directed towards new projects, which now easily hit 3x mint and 2.5k+ holders in the first few days.
2. Most noticeable example is @KoalaAgencyNFT, which went from 0.05 ETH mint to 1+ ETH floor and 4k+ holders in about 3 days.
@dopeshibas - +10 ETH [~848% ROI] in about 5.5 hours
mint was 0.025 ETH, floor now at 0.2 ETH
Reasoning on the trade and analysis using @nansen_ai
1. For this project, there was unusual buying by rare collectors.
Most likely influencers are lazy and frontrun on alts with some NFT activity, hence rare classification.
2. Top rare collector somehow put 8+ ETH (incl. gas) out of their ~12 ETH balance into @dopeshibas.
Also conveniently holds a decent amount of @Pudgy_Penguins and @PartyPenguinNFT, which I will just leave at that...
1. Illiquidity of NFTs fundamentally causes significant volatility.
Price action reflects emotional biases:
liquidation cascade => flipper/panic sellers realize their life savings are in jpegs
up only => price discovery/FOMO further fueled by canceled listings
2. Besides looking at the price floor, SMA is a nice way to confirm demand zones and predict momentum. @pudgy_penguins sat near the 0.8-1 ETH demand zone, after a breakout with significant volume, before trending higher.
1. @PartyPenguinNFT originally had a 0.03 mint price (excl. gas) and was down bad for holders (~66% down) for a few days. Yet top whales continued to have diamond hands till it sold out, then dumped for a strong 7-10x ROI.
2. @alphabettyNFT had a 0.03 mint price (excl. gas) and experienced volatility as flippers sold. Top holders though continued to hold and account for 68% supply. And now the price seems to be trending up as they shill.