Doodles (DOOD) Token Price Prediction: What to Expect at TGE

The highly anticipated PFP NFT project, Doodles, is finally launching its native token, $DOOD, on May 13th.

The project has been teasing the token launch for some time now, and anticipation has been building steadily.

To provide some insight into what price point $DOOD might launch at, let's take a look at the cultural and community factors that make Doodles unique. We'll also compare it to other PFP projects that have launched tokens recently, such as Pudgy Penguins and Azuki.

Community and Cultural Momentum Behind Doodles

Doodles is a vibrant PFP NFT collection known for its colorful cartoon style and hand-drawn aesthetic.

Launched in 2021, the project quickly gained popularity for its playful visuals and community-driven approach.

In 2022, Doodles made headlines by hiring ex-Billboard President Julian Holguin as CEO and Pharrell Williams as Chief Brand Officer, signaling its ambition to expand beyond the crypto sphere.

Early in 2023, Doodles acquired Golden Wolf, an Emmy-nominated animation studio, to further boost its content production capabilities.

Later that year, Doodles collaborated with McDonald's to feature its art on over 100 million McCafé cups in U.S. stores, showcasing its ability to reach mainstream audiences.

These bold moves pushed Doodles beyond the crypto realm, cementing its role as a cultural brand.

The company behind Doodles also secured $54 million in funding at a $704 million valuation by September 2022, providing strong financial backing to focus on long-term product development rather than relying solely on NFT sales.

The project's cultural narrative and community-first approach are key to its enduring value. Early on, Doodles introduced DoodleBank, a treasury DAO that empowers NFT holders to vote on project funding and direction.

Doodles is known for its immersive offline experiences. At SXSW 2022, Doodles created a vibrant installation that even non-crypto visitors enjoyed, showcasing its appeal that extends beyond Web3. These physical-digital hybrids foster powerful emotional bonds, turning fans into organic cultural ambassadors.

The team supports community creativity through the Inkubator, which funds member-led events and Doodles-inspired business ideas. Success stories include "Rolling Doods" in Hong Kong and the Toastie Co scented candle brand.

Dozens of sub-communities have formed on Discord and X, such as China's Doodbro Alpha, Korea's Koodles, and Southeast Asian groups.

The combination of a distinctive aesthetic, evolving utility, and a supportive community has kept demand for Doodles NFTs strong throughout 2024.

Holders were granted early access to Doodles 2 on Flow, a platform for customizing avatars, swapping traits, and earning or buying wearables. This new dimension added life and longevity to the original NFTs, encouraging greater engagement and long-term value accrual.

Essentially, Doodles NFTs serve as entry points to the Dreamverse, a story-driven world being built on DreamOS and DreamNet, merging music, fashion, and community. As Doodles ventures into animation, music, and gaming, its original NFTs will likely form the foundation for licensing and character development.

Overall, Doodles combines strong visuals, real-world reach, and platform growth to keep its NFTs culturally relevant in the long term.

Doodles Tokenomics

Token Allocation

The total supply of DOOD is 10 billion tokens. Here is the allocation breakdown of DOOD:

Although the official total supply of $DOOD has yet to be confirmed, it’s likely that both the Doodles Community and New Blood allocations will be 100% unlocked at TGE, summing up to 43% of the total supply. This could contribute to early sell pressure, similar to what was observed with $PENGU or $ANIME, where large community and short-term holder unlocks led to immediate downward price action.

Currently, the pre-market price on MEXC is around $0.025. Notably, Binance has become the first major exchange to announce Futures listing for DOOD. It seems to be inevitable that over 90% of Binance Futures listings are followed by Spot listings.

With this in mind, and given the relatively low pre-market valuation, a Spot listing price of around $0.08 would be a healthy and realistic initial target, reflecting both the project's cultural strength and speculative demand.

Market Comparison

Facing its token launch milestone, Doodles isn’t the first major PFP NFT project to take this step. Comparable case studies, particularly Pudgy Penguins PENGU and Azuki ANIME offer useful context and precedent.

$DOOD Moonsheet

DOOD vs PENGU

Once considered a failed cute-PFP collection, Pudgy Penguins pulled off a remarkable comeback story