#BTCBreaks99K #TradeStories $BTC $BNB $SOL
Doodles NFT sales volume nearly doubled within 24 hours, rising to over $1.1 million as traders anticipate the project’s token launch and the memecoin release.
Sales of Doodles non-fungible tokens (NFTs) surged by 97% in the last 24 hours as digital collectible traders anticipate the project's token creation event and airdrop.
On May 8, data from CryptoSlam showed that Doodles NFT sales surpassed $1.1 million, nearly doubling the total from the previous day. This increase put Doodles in third place for daily NFT sales, behind DMarket and Courtyard NFTs.
Over the past week, Doodles recorded $2.6 million in total sales volume, an increase of 368% from the previous week, ranking fifth among all NFT collections, according to CryptoSlam.
This spike comes ahead of the long-awaited DOOD token launch from the Doodles project. The project announced on May 7 that the token generation event will take place on May 9.
Source: Innovative Logo Designs
Doodles will launch the DOOD token and airdrop.
Doodles announced the launch of a memecoin on February 13, confirming that it would issue 10 billion Doodcoin tokens on the Solana platform. The project also announced plans to connect to the Base blockchain in the future.
According to the team, 68% of the tokens will be allocated to community members: 30% for the Doodles community, 13% for the New Blood community, and 25% as a fund for its ecosystem.
Team members will receive 17% of the tokens, while the company will get 5% of the total token supply. Doodles reported that these tokens are subject to a one-year lock-up period and a three-year vesting period. The remaining 10% of the token supply will be allocated for project liquidity.
Holders of Doodles NFTs are eligible for pre-registration and to receive a share of the tokens via Airdrop. Trading platforms like Binance and Bybit announced they would list the token on their exchanges after the minting on May 9.
Token allocation for the DOOD Solana memecoin. Source: Doodles
Related: Mattel to halt production of Hot Wheels Virtual Garage NFTs
NFT market achieves weekly sales of $103 million
With the rise in activity for Doodles and other major collections, the total NFT market volume reached over $103 million in the past seven days, a 7% increase from the previous week, according to CryptoSlam.
Ethereum-based NFTs continue to lead with sales of $26.5 million in the past seven days. Polygon NFTs ranked second with sales of $19.1 million, driven by the Courtyard platform for NFTs in the realm of real-world assets, which alone surpassed $17 million in sales, making it the largest NFT token collection this week.
Mythos Chain and Bitcoin-based NFTs also performed well during the week, achieving sales of $16 million and $12 million respectively.
