Doodles Founder’s New Post Teases Possible Token Launch
The NFT collection Doodles may launch its native token, according to a new post by Doodles founder, known by the username “Burnt Toast” on X.
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The NFT collection Doodles may launch its native token, according to a new post by Doodles founder, known by the username “Burnt Toast” on X.
The post says:
Take ownership, keep evolving new ideas, shape communities, open minds, inspire new growth.” If you look at the first letters of each sentence, you’ll read a secret message: “Token’s coming
After Burnt Toast’s post, Doodles’ daily trading volume increased by over 1960%, according to DappRadar, and currently stands at around $16.7 million. Pudgy Penguins, which ranks second, has a daily trading volume of $6.8 million.
The floor price of Doodles collectibles increased by 10%, and now stands at $14,000.
Top NFT collections. Source: dappradar.com
Doodles was launched in October 2021 as a collection of 10,000 NFTs. The digital collectibles represent various characters, including skellys, cats, aliens, apes, and mascots.
Launching its own token, Doodles will join the growing trend in the NFT space, where many projects are expanding their ecosystems by introducing native tokens. These tokens can serve various purposes, such as rewarding users, granting governance rights, or enabling participation in the project's ecosystem.
On December 17, 2024, Pudgy Penguins’ native PENGU token went live with 88 billion tokens being distributed to community members. Currently, PENGU trades at $0.02 and is among the top 100 cryptocurrencies, with a market cap of over $1.5 billion.
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