Doodles NFT Price Explodes 62.5% on Token Launch Rumor: What’s the Truth?
Vignesh S G20 Dec 20242 min read
The Doodles NFT collection has seen a dramatic 62.5% price increase in the last 24 hours, with prices now reaching 6.97 ETH. This sudden rise was sparked by a recent post from the collection’s founder, Scott Martin, also known as Burnt Toast. But what exactly triggered the excitement?
What’s Coming?
Burnt Toast recently shared a thought-provoking message on X for the Doodles community: “Take ownership, keep evolving new ideas, shape communities, open minds, inspire new growth.” At first glance, it seemed like a simple motivational statement.
However, clever community members quickly decoded the first letters of each word to reveal the message: “token is coming.” This sparked speculation that Doodles may be planning to launch its own token.
Doodles Takes the Lead
In just 24 hours, Doodles has outperformed all of the top five NFT collections. With its impressive 62.5% price surge, it has climbed to sixth place in the list of the top ten NFT collections by market cap.
Currently, Doodles has a market cap of 69,686 ETH, worth around $228.7 million. Its 24-hour trading volume is 4,930 ETH (approximately $16.2 million), with 741 sales recorded in the last day. Over the past 30 days, Doodles has experienced a significant 196.5% growth.
Partnerships You Should Know
A key driver behind Doodles’ success is its strategic partnerships with major brands. Most recently, the collection partnered with McDonald’s to feature its artwork on over 100 million limited-edition holiday cups. This partnership has greatly increased Doodles’ visibility, as the cups are now available at McDonald’s locations across the United States.
But McDonald’s is just one of several top brands Doodles has collaborated with. Previous partnerships with Adidas and Crocs have included exclusive apparel, toys, and online digital experiences, helping to further elevate the collection’s profile.
Broader NFT Trends in Token Launches
While Doodles is experiencing a surge, other NFT projects like Pudgy Penguins are facing more volatile market movements. Pudgy Penguins recently launched its token, PENGU, which initially caused a stir, pushing its price to 34.80 ETH. However, the excitement quickly faded, and the token has since dropped 37.4% over the past week, with a 10.1% decline in the last 24 hours alone.
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Looking ahead, Doodles’ potential token launch could be a significant step forward for the collection. With strong partnerships and growing market momentum, Doodles is well-positioned for continued success in the NFT space.
