The DOOD Token Is Plummeting Despite Intense Hype Before Its Launch

Sometimes, a well-crafted plan embraces success; other times, it collapses in a silent crash. This is the fate that befell Doodles, a beloved crypto project whose promoters had imagined rolling out a red carpet with the launch of the DOOD token. But in the cryptocurrency jungle, every rise can turn into a free fall. The launch of the token on Solana was a brutal illustration of this. Doodles: The Promise of a Failed Community Shift On May 9, Doodles launched $DOOD, its community token , via a highly anticipated airdrop. The goal? To distribute 10 billion tokens on Solana , with 68% allocated to the community. On X, Doodles declared: The announcement sparked enthusiasm in the crypto community. On May 8, Doodles NFT sales jumped 97% , exceeding 1.1 million dollars. CryptoSlam then ranked the collection third globally. But as early as the next day, the euphoria turned to disenchantment . According to DEX Screener, DOOD’s market capitalization dropped from over 100 million to about 60 million dollars . In parallel, Doodles NFTs fell from 3.5 ETH to less than 1.5 ETH. “ Clearly disappointing “, summarized @lokithebird on X. This brutal reaction evoked the fate of PENGU from Pudgy Penguins, which had dropped 50% on its launch day. Airdrop, Massive Sales, and Confused Communication The reasons for this setback are multiple. First, a significant selling pressure , typical of airdrops where holders seek to cash out. DjaniWhaleSkul, crypto analyst, writes: Next, a strategy perceived as unclear. Despite long-term ambitions — gamification, governance, artistic incentives — the project did not specify immediate use cases. Certainly, the team wants to integrate DOOD into Base, an Ethereum L2 blockchain , and leverage the Doodles universe. But at launch, many users saw it only as a simple memecoin without concrete functionality . The launch on Solana also caused confusion: the holder base, mainly Ethereum , had to open compatible wallets to participate. In summary, Doodles suffered from a combination of aggressive timing , divided audience, and very high expectations. But some supporters remain loyal. Djani concludes: A Brutal Crash, Revealing Figures The market responded starkly, but the data remains revealing of the strengths — and flaws — of this launch. Initial capitalization of $DOOD: over 100 million dollars; Drop on launch day: nearly 40%, to about 60 million; Value of Doodles NFTs: from 3.5 ETH to 1.5 ETH, a 60% decrease; NFT sales in 24h before the airdrop: +97%, with 1.1 million dollars; Total weekly volume: 2.6 million, +368% compared to the previous week. Joel Agbo, contributor at CoinGecko , reminds us that these tokens “ often start as memecoins but aim for utility in the long run “. This was also the bet of Pudgy Penguins, whose PENGU dropped quickly... before rising to a 2.8 billion capitalization. Doodles could follow this model, provided trust is rebuilt. Its history of collaborations (McDonald’s, Pharrell Williams, Adidas) proves its brand strength. And Binance’s support, which listed $DOOD, shows that the project retains credibility among major crypto players . In short, the drop was brutal, but the rebound potential is real. The Doodles project joins the list of those whose token launches initially disappointed. The Official TRUMP memecoin also plunged after a stellar start in the top 10 . Yet, its supporters persevered, and the asset eventually made its mark. Nothing is decided for $DOOD: the next chapter will depend on commitment and vision.