Bobby Ong, co-founder of CoinGecko, shared a very bullish price prediction for Moonbirds. If you’re looking to get into the NFT game and turn a profit, knowing what gives Moonbirds their value is key. You need to understand how to measure these three important things. This article summarizes Ong’s thesis and lays out clear, practical steps you can take to make smart decisions. ThrowingToken.com is your guide through the DeFi frontier, featuring insights from industry experts. Receive rich DEX reviews, innovative NFT marketplace analysis and more to help you get educated and get ahead.

Understanding Moonbirds' Value Drivers

There are a number of reasons for the value and promise of Moonbirds. These factors involve the floor price, rarity, supply, market trends, and community engagement. It is important to understand how each of these elements work together and impact the overall direction of the project.

The floor price is the current minimum price that someone has listed a Moonbirds NFT for sale. This price serves a powerful role as a market sentiment gauge. As the community well knows, it’s been extremely volatile, hitting all-time highs upwards of 40 ETH at times in the past. Rarity After uniqueness, rarity — based on unique traits and scarcity of supply — is what makes individual Moonbirds interesting and invaluable. Only 7,875 NFTs have been minted and made publicly available. Of these 2,000, 2,000 are reserved for Proof Collective members with 125 held by administrators, making them exclusive and highly sought-after.

Of course, larger market trends at play in the NFT space affect Moonbirds’ performance as well. Other celebrated collections, like CryptoPunks or Pudgy Penguins, have found prosperity in the market. Their success provides the clearest and most visible read on general market appetite and investors’ confidence. Community engagement is an important part of determining the future direction of Moonbirds. The new owner, Spencer, and his vision for the project long-term will have a huge impact on whether it’s successful long-term. Keeping up with these trends is key for anyone interested in buying or selling Moonbirds.

Tracking Moonbirds Prices with CoinGecko

CoinGecko provides a variety of tools for you to track Moonbirds prices, alerting you of price changes. By leveraging these tools, you can ensure you’re always informed and able to act fast as the markets shift in real-time. Our step-by-step guide will walk you through using CoinGecko to track Moonbirds prices.

Setting up Price Alerts

CoinGecko makes it super easy to create price alerts for Moonbirds. This Wishlist Alerts feature will notify you when the price reaches your desired level. Armed with these alerts, you will be equipped to make timely trading decisions. Here's how:

  1. Obtain a CoinGecko API Key: Head over to the CoinGecko Developer's Dashboard and click on +Add New Key in the top right corner to obtain an API key.
  2. Add Moonbirds to your portfolio: Add Moonbirds to your CoinGecko portfolio to enable price alerts for individual tokens.
  3. Set up price alerts: Set price alerts to either a one-time (Once) or a recurring notification, where you’ll receive an alert every time Moonbirds reaches your target price (Recurring).

Advanced Tracking with the CoinGecko API

To take it a step further, you can use the CoinGecko API to get more detailed and frequent cryptocurrency tracking. This enables you to programmatically retrieve Moonbirds’ real-time price and create tailored alerts based on your specified criteria. This is especially helpful for traders who would like to automate their process of monitoring the market.

  1. Use the CoinGecko API: Use the CoinGecko API to fetch Moonbirds' current price and set up alerts. You can use a programming language like Python 3.10+ and a library like JSONWizard to enable dot notation and type hinting.
  2. Integrate with email notifications: Integrate your CoinGecko API setup with email notifications using a Gmail account to send updates when Moonbirds reaches your target price.

Analyzing On-Chain Data

Analyzing on-chain data can provide valuable insights into the health and activity surrounding Moonbirds. Metrics such as holder growth and increases in whale activity can shine a light on positive or negative trends.

By tracking the unique count of addresses that are Moonbird holders, we can start to get a picture of how our community is growing over time. A logical upward trend in holders a la Bitcoin or Ethereum is a positive sign of interest and adoption. Exploring holder distribution gives us an overview of the current state of how Moonbirds are distributed across various wallets. To date, data shows that 16% of holders have 1 owl, 46% with 2 owls, and 12% with 3 owls. As the first ever Public Benefit Corporation holders, this knowledge demonstrates their commitment to the handful of holders. The percentage of Proof Collective NFT holders that own Moonbirds is what matters. This is impressive considering that 92% of these holders have at least one Moonbird and 46% (431 out of 934) kept both the birds they were assigned.

Additionally, looking at the current top Moonbirds holders gives a fascinating view. The OTHER #22, #3 This lack of obvious flippers in the top five holders indicates that the collection is generally well diversified. That diversification helps mitigate the risk of price manipulation by those flippers.

  • 7,875 were allocated to those who won a Proof Collective membership raffle
  • 2,000 for Proof Collective members
  • 125 for distribution by the Moonbirds team

The key to being able to trade Moonbirds and ETH profitably is knowing how the correlation between their movements and the overall market in general. The dollar cost of Moonbirds seems to vary all the time with the value of ETH. This is because traders generally use ETH for trading NFTs. Keeping an eye on ETH’s performance will give you some excellent leading indicators for what could happen to the Moonbirds market in reaction. The collection has sold a total of $320 million, 47% of which were sold in the last seven days, indicating significant trading activity.

  • Average number of Moonbirds bought and sold: 1.5 owls
  • Average profit: 8.31 ETH (~$25,600 USD)
  • Average time to sell: 25 hours

It’s equally important to monitor general market trends in the NFT space. Increased positive sentiment and greater trading volume within the broader NFT ecosystem can increase Moonbirds’ value. If negative trends occur, prices could decline. Moonbirds takes the crown as the top traded collection over the last seven days. It cranked out an impressive $148,518,343 in that time and $327,073,551 over the last two weeks. This indicates strong market interest. Further, the collaboration with Kaito AI increased Moonbirds trading volume by 369% and lifted floor price 28% after the announcement. Moonbirds, which was launched just days before, rocketed to more than 100K ETH (about $300M) in secondary sales volume. This outstanding accomplishment is a reflection of the project's long-term growth potential and its ability to attract new and frequent trading activity. By understanding these relationships, traders can make informed decisions and manage the risks and opportunities that come with trading Moonbirds.

Correlation with ETH and Market Trends

Whether it’s through using CoinGecko’s tools, analyzing on-chain data, or understanding market correlations, traders will be able to make more informed decisions about Moonbirds. ThrowingToken.com equips you with comprehensive knowledge and expertise to thrive in the DeFi and NFT spaces.

Keeping an eye on overall market trends in the NFT space is also crucial. Positive sentiment and increased trading volume in the broader NFT market can have a positive impact on Moonbirds, while negative trends can lead to price declines. For example, Moonbirds is the number one most traded collection in the last seven days and the previous two weeks, with a volume of $148,518,343 and $327,073,551, respectively. This indicates strong market interest. Additionally, the partnership with Kaito AI boosted Moonbirds trading volume by 369% and raised floor price 28% post-announcement. Just days after its launch in April 2022, the Moonbirds project achieved upwards of 100,000 ETH (around $300 million) in secondary sales volume, which demonstrates the project's potential for rapid growth and high trading volume. By considering these correlations, traders can better assess the risks and opportunities associated with Moonbirds.

By using CoinGecko's tools, analyzing on-chain data, and understanding market correlations, traders can make more informed decisions about Moonbirds. ThrowingToken.com provides the resources and insights you need to navigate the DeFi and NFT markets successfully.