TechFlow news, May 10 — According to DEX Screener data, the non-fungible token (NFT) project Doodles, originally based on Ethereum, launched its new token DOOD on the Solana network. Following the airdrop completion on May 9, its market capitalization plummeted from over $100 million to approximately $60 million, marking a 40% decline.
At the same time, the price of Doodles' flagship NFT collection has also dropped sharply, falling from around 3.5 ETH on May 8 to less than 1.5 ETH, a decline of about 60%.
According to CoinGecko data, the current total market capitalization of this NFT collection is approximately $31 million. Notably, in February this year, Doodles announced it would issue a total of 10 billion DOOD tokens on the Solana network, with plans to bridge them in the future to the Ethereum Layer2 network Base.
