DOOD Token Tanks on Debut—But Doodles’ Team Already Plotting Comeback
Doodles’ much-hyped DOOD token launch stumbles out the gate—down double-digits as ’buy the rumor, sell the news’ traders cash in. Not even an NFT pedigree could shield it from crypto’s merciless opening bell.
Behind the scenes, the team’s already spinning this as a ’long-term play’ (classic move). Roadmap promises include staking, governance, and—of course—’ecosystem expansion.’ Because nothing revives a token like buzzword bingo.
Funny how these ’community-driven’ launches always seem to benefit the insiders first. At least the apes can’t complain this time.
Image: DOOD’s market cap since launch.
Here’s the thing: The Doodles team doesn’t want you to see DOOD as just a memecoin. Still, Hurwitz said the token is “memetic.”
In a post, he explained that DOOD is “the first universe token” of DreamNet. DreamNet is a content-focused protocol from Doodles that uses Coinbase’s Base chain. The Doodles team has plans to make DOOD usable across “collectibles, gaming, DeFi and beyond.”
The token is expected to become a usable currency in the Doodles shop in a few days.
Doodles’ broader brand vision these days sounds a lot like that of Pudgy Penguins, perhaps its most obvious comparison. The Penguins also have cutesy avatars and the goal of becoming a mainstream character brand (and have gained some traction with social media posts and Walmart toys).
Doodles, like Pudgy Penguins, is planning content, “shorts, brand collabs and merch drops,” but also wants to be powering a “decentralized storytelling movement.”
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