Bumping the price up a bit. It's a low-mid tier effect, in a pretty new and high rated hat (as in hats with unusual effects). Proof:

My trade: http://www.tf2outpost.com/trade/12736237 Notable offers of: 2 buds pure, 2.5 buds pure (first rejected, second retracted after 1 day), and a Purple Energy HWAH if I added a little (This is around or over 2.5 buds according to bp.tf, but the guy had an offer of a Searing Plasma Charmer Chapeau ,that goes for over 3 buds) That chapeau offer can be seen here: http://www.tf2outpost.com/trade/13008433

2nd trade: http://www.tf2outpost.com/trade/12866022 Pre-wrapped V. Concheror (3 buds or so, although this is probably a pain to sell EDIT: Apparently this is 2 buds worth, sorry), 2.5 buds pure when a hat got sold

3rd trade: http://www.tf2outpost.com/trade/13000839 Power Surge HWAH offer - This HWAH had offers of a Steaming Phantom + sweets (Phantom is about 2.1~2.2 buds, + sweets is vague, but still over the current low end).

Only noted decent offers (as in not lowballs below current price, not spam, etc) and all unusual overpay is taken into account. This hat not only is low on supply (4 in the world), as its owners usually have high b/o's for it, and not willing to part easily. The low end is set at the 2.5 pure offer, and the high end that Purple Energy HWAH with the 3.3 buds unusual offer in it,along with a bunch of other 2.5~3 buds offers