The Moonbirds NFT has become a hot topic again after its floor price surged sharply in the past 24 hours.
The latest CoinGecko data shows an 11.8% increase, bringing the base price of this pixelated bird collection to 3.16 ETH, or approximately $14,459. This increase contrasts sharply with the generally weak NFT market.
Moonbirds NFT defies market slowdown with steady buyer demand
A closer look reveals that this increase occurred despite a slight 1.7% decrease in trading volume to 440.46 ETH. The number of transactions also decreased by 5.7%, with only 150 sales recorded in the past 24 hours.
Nevertheless, the average selling price of the Moonbirds NFT rose 4.2% to 2.94 ETH. So, despite the quieter market, buyers appear willing to pay more for each unit.
Conversely, the daily price chart shows quite interesting momentum. Around the early hours of the morning, the price, which was previously around 2.7 ETH, suddenly pushed up to above 3.1 ETH and then held above 3 ETH.
This surge likely occurred due to the actions of large collectors, or whales, who snapped up seemingly low prices. Furthermore, this pattern also indicates a certain level of confidence in this collection, despite the current unfavorable NFT market.
Furthermore, the longer-term performance of Moonbirds NFTs also shows a positive trend that cannot be ignored.
In the last 30 days, the price has increased by 29.8%. In 60 days, the surge was even sharper, reaching 375.6%. So, if anyone says Moonbirds is only experiencing a temporary surge, this data clearly refutes that.
Meanwhile, the overall NFT market is actually experiencing weakness. The total NFT market capitalization is around $6.61 billion, down 1.2%.
This means that the price surge of Moonbirds NFTs is truly a stand-alone event, distinct from the larger market trends that are trending downward, such as Pudgy Penguins, CryptoPunks, and BAYC. This demonstrates a unique dynamic where a collection can remain popular even as other collections around it decline.