Doodles Airdrop: How Could DOOD Token Price React Tomorrow After Launch?

The crypto community is waiting for the listing of the Doodles airdrop’s DOOD token tomorrow. Pre-registrations for the airdrop end today at 4 p.m. ET, which has also caused a spike in Doodles NFT sales. The token will start with a supply of 10B DOOD on the Solana blockchain. Major exchanges have already indicated they will list the token.

Doodles airdrop details

The Doodles team announced the DOOD token on February 13. The token plans for a future bridge to the Base network. According to their tokenomics data, 68% of the total supply will be allocated to the community.

Pre-registration for the airdrop closes today at 4 pm ET, with a specific focus on rewarding long-term supporters. The team noted that “OGs and holders of other Doodles collectibles can still pre-register to receive their allocation via airdrop” through their dedicated registration portal.

The DOOD token distribution chart shows a detailed breakdown of the allocation. 30% will go directly to the Doodles community, 25% to an ecosystem fund, 17% to the team (with a 1-year cliff and 3-year vesting schedule), 13% to “New Blood,” 10% for liquidity provision, and 5% to the company.

The news has led to an enormous spike in the trading of Doodles NFTs. The series generated $2.6 million in sales during the last week, which is up by 368% compared to last week, CryptoSlam data shows. This puts Doodles at position five among the top trading NFT collections for the week, with sales increasing by 60% in the last 24 hours alone.

How could the token price react after launch?

We can look at similar token launches to understand how DOOD might perform after tomorrow’s debut. A particularly relevant comparison is PENGU, another NFT project-associated token that launched on December 17, 2024. PENGU experienced a major price movement on its launch day. The token surged to an all-time high of $0.05738 within hours of trading.

Several factors could influence DOOD token price trajectory. The Doodles airdrop is one of the most popular airdrops in recent times. First, major cryptocurrency exchanges including Binance, KuCoin, OKX, and Bybit have already announced plans to list DOOD. This usually gives instant liquidity and price discovery. This aggregate exchange support can offer more initial trading volume than tokens with less available listings.

Imbalances in supply further indicate that better prices for DOOD may exist. DOOD has a 10 billion-token supply, less than PENGU’s supply of 88.88 billion tokens. Less supply may be translated into a higher launch price than PENGU’s price, assuming identical market demand.

The trading volume of Doodles NFT grew by 60% within 24 hours and is now the fifth-largest NFT project with a weekly trading volume of $2.6 million. That is a lot of interest prior to its launch. The trend and the strong brand of the project within the NFT market show a high demand for the token.

But as with any token launch, how individuals perceive the market, the general mood on the cryptocurrency market, and selling by recipients of airdrops will determine DOOD’s price action during its first several hours of trading. However, the DOOD token is launching at a time when the Bitcoin price is rallying.

The rally follows Fed Chair Jerome Powell’s announcement to keep the interest rates unchanged this time following the meeting.