With the #NFT market still bearish (sentiment score: 13), we are still seeing movement on established collections.
#Doodles had a surge in sales volume ranking top in the charts and boosting the BC Index.
Let's dive into its performance metrics 🧵
2/ Background
Created by @burnttoast, is a #PFP collection that launched in mid-Oct 2021 and took off immediately, the artwork with pastel color was visually appealing. With that, a strong community grew around this project & is now established as a Bluechip collection.
3/ Price Chart
Based on 3M price action, the resistance was 15.5E & the floor has been below 7E over the past month.
With the recent tweet & spaces, the price surged in the last 24hr breaking the local resistance of 9E all the way to 11.5E sales before correcting to 7.68E fp.
4/ Volume
Over the last 30D the sales volume was 4.97k E. With the recent demand, the 24hr volume grew by 800% totaling 1.47K E in sales. That alone accounts for ~30% of the 30D volume.
We also see that #Doodles grew by 2.8% in its overall market cap to 112.1k E.
5/ Key Factors
As the # listing 🔽, the price would 🚀 & vice-versa. Zooming at 24hr, we see a reversal (green dot) happening twice indicating holders taking profits with the volume.
It is noted that the listing had grown by 73 causing 6.12% of the collection to be listed.
6/ Listings
Based on the current listings, the intensive range to break would be 9.4-10.1E (46 listings) & there are 83 listings to that point.
This indicates there could easily be another 🚀 with the same volume. However, with the listing growing, this might not be the case.
6/ Potential Bluechip (BC)
While doodles is already a bluechip collections, it would be nice to see what other collections are the holders holding.
There are 2,555 BC holders with the majority of them holding MAYC, Clone X, Cool Cats Moon Birds & BAYC.
7/ Holders Trend
From the 30D analytics, holder & whale wallets have been on the rise with a decline in BC holders.
As it is a BC collection, the chart still shows good strength in the project.
8/ Wallet Distributions
Based on the chart below, the unique ownership is ~80% which is extremely good.
We see that ~15% of the holders have 2-3 NFTs & 4% hold up to 10 NFTs. There is a small % of wallets holding large no. of NFTs which we will cover below.
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