Doodles Officially Announces Coin Launch and Solana Debut, Is the Airdrop Worth Looking Forward To?
After well-known projects such as Fat Penguin and Azuki launched their tokens, another Ethereum blue-chip NFT project announced its token launch! As the 6th largest NFT project by market cap on Ethereum, Doodles, known for its animations, short films, and collaborations with brands like McDonald's, announced early this morning (14) that it will issue a token $DOOD on Solana, becoming another Ethereum project to choose Solana as its token issuance platform following Fat Penguin.
However, the officials also added that they plan to bridge to the Ethereum Layer 2 Base in the future.
This news has sparked a warm welcome from the Solana community, with the Solana official account posting a GIF to show support. Additionally, the mainstream Solana ecosystem wallet Phantom also posted, saying, "Welcome to Solana."
Tokenomics
According to the official announcement, $DOOD has a total supply of 10 billion tokens, with 68% allocated to the community. The specific breakdown is as follows:
Doodles Community: 30%
New Blood: 13% (not clearly defined)
Ecosystem Fund: 25%
Team: 17%
Liquidity: 10%
Company: 5%
However, details regarding the airdrop distribution method and token launch date have not been clearly stated by the officials yet, and further announcements are expected in the future.
Doodles Trading Volume Surges by 345%
Influenced by this news, Doodles has become the hottest NFT project in the past 24 hours. The NFT Price Floor website shows that Doodles' total trading volume has surged by 345.37% to 3,138 ETH (approximately $8.47 million), with the number of trades also increasing by 307.19% to 680 transactions. Furthermore, the average trading price has risen by 9.38% to 4.61 ETH, indicating a significant increase in demand for Doodles in the market.
At the time of reporting, the Doodles floor price is currently at 4.44 ETH, worth around $11,988.
Potential Value of Airdrop for Doodles Holders?
Assuming that the FDV (Fully Diluted Valuation) of Doodles at launch falls in the range of $10 billion to $20 billion, with 30% being airdropped to the Doodles community, this means the total airdrop value could be between $3 billion to $6 billion. Considering there are 9,998 Doodles in total, each NFT could potentially receive an airdrop value of $30,000 to $60,000, far exceeding the current floor price of Doodles.
However, this does not necessarily mean guaranteed profits. For example, when $PENGU launched, its fully diluted valuation (FDV) once exceeded $6 billion, but now it is only about $800 million; $ANIME also dropped from $1.4 billion to its current $270 million, with both experiencing a decline of over 80% from their highs. Therefore, the market performance after the DOOD launch remains uncertain, and buying Doodles now does not necessarily mean a risk-free investment.
$ANIME has dropped over 85% from its peak
$PENGU has dropped over 84% from its peak
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