Thread by @LarriesNg

So I've heard you want a little story on the famed @doodles .

Can prices break 10ETH? Will @Noodles_NFT grow with it? How about #Pukenza? There are no direct answers in the world of #NFTs, but some data could give you a hint. You'll have to read on to find out. (1/20)

2.5 months back, I did a video saying that I've spent $12,000 on 2 potential bluechip NFTs. Those 2 NFTs, are none other than #Doodles that's currently sitting at 6.3ETH floor. Here's a recap:


Now that I'm on a 600%+ gain, what now? (2/20)

I was bullish right before the mint, as I saw the potential of Doodle as an undeniably recognizable IP and was a fan of @byburnttoast long before NFT was a thing. But doodles has been sitting around 1ETH for a month or so. And on November 14, something magical happened. (3/20)

We saw the beginning of a massive rally for the project as the average price begins to break above 2ETH, with trading volume going above 600ETH, bringing lots of attention to the community as it starts to trend on #OpenSea. (4/20)

As a fan of utility, I know that a project with an innovative roadmap is one that would climb. HOWEVER, during the period between Nov to Dec, this was not the case for Doodles. I did not see anything groundbreaking besides plenty of money being spent on marketing... (5/20)

Which further strengthens my theory of Doodles having an undeniably strong IP. With plenty of ape projects in this space, I believe the market was lacking a human figure that is easily relatable and appeals to the masses. This is it. (6/20)

Keep in mind that while Doodles has a strong community, it is NOT the strongest in terms of diamond-handing NFTs. As of today, there are more than 1,200 listed - people want to profit. BUT THE APPEAL is making people buy MORE every single day despite its hefty price tag. (7/20)

You can also clearly see this with the number of diamond-handed NFTs sitting at only 5,649/10,000. While this is good, it is by no means the best - people are trading half of its supply. Which once again goes to show the APPEAL of brand with the constant rise in price. (8/20)

I counted roughly 139 owners who have diamond-handed more than 5 NFTs in their wallets, with the top 10 having more than 20. Keep your eyes on these wallets, because of the power they hold in shifting the markets. (9/20)

As of today, we've corrected from the floor price highs of 7ETH, back down to 6.3ETH - is #Doodles going on to crash, can we hit 10ETH?

To answer that question I'd like to reference our cool friend @coolcatsnft . One of the OGs in this space. (10/20)

#Coolcats have been around for long, and at several points have had difficulty breaking the 7ETH floor, the way I see it, while we are clearly different - our art styles, owner count, and supply are very close and that serves as a good reference. (11/20)

When NFTs were down, there was a long time when Coolcats was trading around 5-7ETH. There were times when it spiked to 10ETH, but the 10ETH average price and floor is HARD to maintain as we saw corrections coming in quickly. (12/20)

One of the reasons why the 10ETH floor is hard to hold is because of the access to liquidity in the market. The average yearly income of an American in 2021 sits at $51,480. Honestly speaking, how many would be willing to fork out 80% of their annual pay to buy an NFT? (13/20)

That said, I do believe that holding a 10ETH floor is inevitable for Coolcats and eventually Doodles. Looking at #Cryptopunks, #BAYC, #MAYC, we know that the speculative market just requires time to process and adjust to its climbing price tag. (14/20)

Whales don't just throw their money randomly, they pick their targets, and as we are seeing an increasing amount of smart money coming in, it's only a matter of time until more people value Doodles as a premium brand. (15/20)

The recent climb can also be attributed to the upcoming space doodles that is tentatively set to launch on the 31st of Jan. This serves as an important milestone as the price of it will also dictate how far Doodles can go. Similar to #MAYC being a sub-tier to #BAYC. (16/20)

As for #pukenza and #noodles. Many are saying that they are the "entry" NFT into the doodle space. While it is backed by #doodlebank, (for now) there is little to no utility on both projects. The price action of both is directly associated with the success of Doodles. (17/20)

If Doodles fall, they'll fall, and if it rises so will they. Unless they breathe life into these projects with innovative utility, the two will always be worth a fraction of what Doodles is. (18/20)

In the short-term, lookout for #Pukenza. On the 7th of January, when the mint officially closes for the project and sets a hard cap for its supply, there should be a spike in prices. (19/20)

I could probably go on, but we're on tweet 20. TLDR; I'm setting the price of my #Doodles at 100ETH - the project has a strong appeal, is gaining traction, and has so many legs to run. Sit on tight, more likely than not you'll be thanking yourself in the future. (20/20)

Is #doodlefollowdoodle / #doodlesfollowdoodles still a thing? Been here from the start, and with 5.5K owners, it doesn't look like it's working for the past 3 months. 😂