Doodles NFT token (DOOD) experienced significant volatility on its launch day, May 9, 2025, with its market capitalization declining by 40% despite support from Binance.
The decline highlights challenges in managing supply dynamics and early selling pressures typical in token launches, affecting investor confidence and market stability.
Doodles NFT Loses 40% Market Value on Launch
The Doodles NFT token experienced a 40% drop in market capitalization on its airdrop date, May 9. This volatility follows its launch amidst strong initial interest and support from Binance.
Initially developed by Burnt Toast with leadership by Julian Holguin and Pharrell Williams, the project has integrated with major brands. Their guidance is pivotal in steering Doodles through market challenges.
Investor Caution Despite Binance’s Support
Binance’s involvement, including offering perpetual futures with leverage, did not stabilize DOOD’s price. Investors reacted with caution, reflecting concerns about the token’s overall sustainability.
Initial unlocking of 43% tokens at the Token Generation Event created pressure on prices. Historical token patterns show such sharp declines are typical post-launch, impacting market sentiment and future growth.
Recovery Insights from Similar Token Patterns
DOOD’s pattern mirrors tokens like PENGU and ANIME, known for initial spikes followed by retracements. These comparisons offer insights into potential recovery strategies.
Experts suggest strategies on managing supply dynamics and addressing selling pressure. Kanalcoin analysts emphasize the need for structured market approaches, given historical precedents of similar tokens.
“Binance is excited to announce that Doodles (DOOD) will open for trading on Binance Alpha at 2025-05-09 13:00 (UTC). In addition, Binance Futures will launch DOODUSDT Perpetual Contract with up to 50x leverage at 2025-05-09 13:30 (UTC).”
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