Doodles NFT token stalls after airdrop

Following an anticipated airdrop, the DOOD token’s market capitalization declined by roughly 40% on May 9, according to DEX Screener.

The newly launched DOOD token from Ethereum-based NFT project Doodles has seen a steep drop in market capitalization following its May 9 airdrop on the Solana network.

According to data from DEX Screener, DOOD’s market cap fell from over $100 million shortly after launch to around $60 million at the time of writing.

Overall, the much-anticipated airdrop was “[d]efinitely underwhelming,” a crypto commentator said in a May 9 X post.

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