A person who has a persistant and unrelenting personality defect in which, no matter what he does, he is always prick. It is to the point where the guy has to be a prick just to level himself and feel real.
Careful, Mikey is a dickaholic. He'll just cause you greif and pain with no upside.
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.