Binance’s Latest Move Sends Doodles Token Tumbling—Just Another Day in Crypto Casino
Binance flexes its market-moving muscles again—this time triggering a double-digit plunge for the once-hot Doodles token. Traders scramble as the ’blue-chip’ NFT project shows its speculative underbelly.
The twist? This wasn’t some grand conspiracy, just another routine liquidity shuffle that vaporized retail portfolios. Remember when ’utility’ was supposed to matter? Neither do we.
Pro tip: In crypto, the house always wins. Especially when the house is a $100B exchange playing musical chairs with your altcoins.
$173 network and facilitating NFT trading, witnessed a decline in its central token’s value following support from Binance. Binance announced that the Doodles (DOOD) ecosystem WOULD be featured on its Binance Alpha platform. Furthermore, futures contracts related to this token would be initiated soon, fostering anticipation among market participants.
ContentsDoodles Token ListingDoodles Token DeclineDoodles and Its Ecosystem
Doodles Token Listing
Binance scheduled the listing of the cryptocurrency, Doodles (DOOD), on the Binance Alpha platform for May 9, 2025. On the same day, the DOOD/USDT futures contract would become available with leverage options up to 50x.
Binance announcement: “We are delighted to announce the listing of Doodles (DOOD) at 13:00 on May 9, 2025. Moreover, the DOODUSDT Futures Contract with leverage going up to 50x will start at 13:30.”
The inclusion of futures contracts raised expectations of increased investor interest in the token. However, contrary to the anticipated positive impact, market data indicated a significant price drop for DOOD on the same day.
Doodles Token Decline
The price of the DOOD token swiftly fell from $0.00807 to $0.00686 on the morning of May 9. Most likely, many major investors, who were awaiting the listing announcement, sold the news once it arrived—a frequent occurrence in the crypto market.
Doodles is established within the NFT platforms, initially created in 2021 by a Canadian artist known as Burnt Toast. The platform began with the generation of 10,000 unique NFTs and has since expanded into live storytelling and gaming areas.
Doodles and Its Ecosystem
According to Doodles’ official website, users let their creativity flourish through an exclusive app known as Stoodio. This application allows users to create personal avatars, collect digital items, and access experience-based content on the platform.
Doodles explanation: “Within Stoodio, users can create and customize their Doodles avatars, gather digital items from online and offline experiences, connect with a global community, and unlock rewarding content according to their participation.”
In 2023, Doodles collaborated with rap artists Lil Wayne, Lil Yachty, and Pharrell Williams to produce a music video in the brand’s style, enhancing the platform’s popularity.
The support given to the Doodles platform by Binance demonstrated that crypto asset exchange listings do not always positively affect prices. While Binance Alpha and futures options increased accessibility to the project, the token’s price dropped contrary to short-term expectations. Investors closely monitor such fluctuations in the market and typically act cautiously against sudden price movements. The price changes in NFT-based ecosystems and their tokens are regarded as part of the general risk and volatility inherent in the industry.
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