In the midst of one of the worst bear markets ever, a project called CryptoDickbutts series 3 surged on Sunday 7th of August and surpassed a number of ‘blue chip’ NFT collections with significant volume. In the last seven days on OpenSea, CyrptoDickbutts is currently ranked 12th in top collections. Its total volume has increased by a staggering 438.23% and has a total of 9,400 ETH trading volume. It currently sits at a floor price of 3.4 ETH at the time of writing.
What Are CryptoDickbutts?
CryptoDickbutts is the brainchild of the famous comic book the Dickbutts. The Dickbutts was created in 2006 by artist K.C.Green, and since then, it has become a viral meme on the internet. In line with the internet and Web3 culture, what originally started as a joke between CryptoPunk holders has grown into a community that embodies core tents of decentralization. The project has no set roadmap and is governed by its DOA, which includes famous names such as Steve Aoki and Blondish.
The OG collection was released in March 2021 and consisted of only 161 NFT tokens. The floor price of the OG collection currently sits at 9.97 ETH. The continued demand led to a third series with a supply of 5,200 to be released in August 2021. In the last six months, price action has been moving sideways between the 1 and 2 ETH range. However, on Sunday, CryptoDickbutts went on a massive runup to a peak floor of 6.99 ETH for commons. Rarer token transactions were recorded up to a whopping 36.69 ETH.
Why Did CryptoDuckbutts ‘Moon’?
A while ago, CryptoDickbutts had experienced an influx of volume as influencer and Rug Radio host Farokh announced his entry into the project. Recently, he’d Tweeted another post showing yet another entry into the collection and stated, “it’s happening.”
However, Farokh’s entry seemed to be after volume had started to flood in, meaning that he was jumping on the hype train and not the pump catalyst. It is unclear exactly what the price catalyst was, but all arrows are indicating that Meltem Demirors, Chief Strategy Officer of CoinShares may have had something to do with it. Demirors has a large following of 251.1k on Twitter, and on Sunday, she hosted an emergency Twitter space and shilled CryptoDickbutts.
In the Twitter space, she stated that “The Dickbutt community has always been about one thing and one thing only, and that is the universal truth of one D equals one B. I also think that commenting on prices defeats the overall objective here. Dickbutts are not about investing. Dickbutts are a culture.” Since then, Demirors has posted a number of Tweets mentioning CryptoDickbutts and her Twitter banner is of them too. If there is one thing that I’ve learned in this space is never to fade the power of a celebrity or influencer shill.
This, in addition with the fact that these are very meme-able, is why CryptoDickbutts mooned.