Doodles Launches DOOD Token with Official Contract Address, Signaling Strategic Shift Amid NFT Market Challenges
Doodles, a prominent NFT project, is executing a major strategic pivot amid waning NFT market activity by launching its native DOOD token. Initially facing falling NFT trading volumes and floor prices, Doodles is shifting from a community-driven collectible approach towards a broader Web3 entertainment and tokenized ecosystem. The project’s DOOD token will supply 10 billion tokens, with 68% allocated to its community and the remainder to stakeholders and new participants. Doodles has officially published the DOOD token contract address (DvjbEsdca43oQcw2h3HW1CT7N3x5vRcr3QrvTUHnXvgV), enhancing transparency and helping traders verify authenticity. The token will first launch on Solana before expanding to Base Layer 2, offering liquidity options and key roles in governance, staking, digital content, wearables, and planned gaming features. Top exchanges, including Binance, plan to support DOOD trading and airdrops, which could drive up trading volumes and liquidity. However, unclear distribution details, internal risks, and possible institutional sell-offs introduce volatility. Short-term traders might benefit from initial price rallies, but long-term holders should remain cautious unless the ecosystem achieves high user engagement. Market participants are also advised to verify token authenticity using the official address to avoid scams.
Neutral
The launch of the DOOD token and publication of its official contract address represent a notable development for Doodles and the broader NFT space. Immediate effects include increased interest and a potential trading volume surge, especially with top exchanges like Binance signaling support. However, market uncertainty remains due to unclear distribution details, internal risks, and possible pressure from early institutional investors to sell. While short-term traders may benefit from initial volatility and upward price action, the token’s long-term value will depend on user engagement and the project’s ability to deliver promised Web3 features. As speculative risk and potential for rapid price swings remain pronounced, the overall immediate impact on the DOOD token is neutral, pending further ecosystem developments.