Doodles, a prominent NFT collection, launched its DOOD token on Solana, initially achieving a market cap of over $100 million before plummeting to around $52 million due to anticipated sell pressure from an airdrop. Austin Hurwitz, head of strategy, emphasized that such a price drop was expected and stated the intention for the tokens to eventually reach long-term holders. Despite the initial volatility, the team is positioning DOOD as more than just a memecoin, calling it the first universe token of their DreamNet protocol. Plans are in place for DOOD to serve as a usable currency in the Doodles shop, with broader aspirations to integrate it into gaming, DeFi, and collectibles. Doodles aims to align with efforts similar to those of Pudgy Penguins, emphasizing content creation and community engagement.

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