Doodles NFT giving competition to BAYC? Sales volume has the answer

Following several weeks of recording low sales volume, Doodles NFTs have kickstarted another cycle of increased sales volume. According to data from CryptoSlam, Doodles, with a 285.96% uptick in the last 24 hours was ranked first on the platform’s ‘NFT Collection Rankings by Sales Volume’.

Doodles on top

Interestingly, Doodles NFT sales totaling $2,552,904 (2,005.2208 ETH) were recorded in the last 24 hours. With eight days left till the end of the month, the sales made over the last day represented 22% of the total sales of $9,873,228.77 recorded so far this month.

Within the previous 24 hours, this NFT project registered a 285% uptick in the number of transactions executed. This brought the total number of transactions to 154 at the time of writing with 130 new buyers. 

In addition, the number of active wallets holding a Doodle NFT grew by 133.30 % over the last day to be pegged at 315 at press time. 

This uptick in sales is attributable to a decline in the floor price of the NFT project which dropped by 3.36 % at the time of press. Also, on 13 May, Doodles announced the “Dooplicator”. According to the project, anybody who owned a Doodles NFT could claim a Dooplicator which was described as a “backpack-sized device with extraordinary powers usable in our (Doodles) next major product release.”

The window period to claim a dooplicator ended on 21 June. The increment in sales of Doodles in the last 24 hours could also be attributed to the last-minute rush of investors to pick up a Doodle to be able to claim the available dooplicators. 

With a total of $16,213,966 recorded in sales for all Ethereum-based NFTs, Doodles was responsible for 15% of these sales.

Doodles vs BAYC

On the other hand, with a total sales of $1,697,661 recorded in the last 24 hours, the Bored Ape Yacht Club (BAYC) project closely trailed Doodles. Over the last 24 hours, the BAYC project recorded a total of 19 sales transactions with 19 new buyers. At the time of press, the floor price for the NFT project stood at 84ETH registering a 6.13% decline over the day.

However, according to data from NFTGo, BAYC remains a leading project with a market capitalization of $1,634,145,814.04. For context, the market capitalization of the entire NFT ecosystem is valued at $22.36B. BAYC currently holds 7.07% of the market share.