The recent launch of the DOOD token by Doodles, one of the leading NFT projects, has been a largely negative reception. Although the airdrop caused a buzz at the start, most of the price spike since has been erased, leaving many speculating on the token’s long-term life. This article will analyze the factors behind the DOOD token's price performance, compare it to similar situations like Pudgy Penguins' PENGU, and assess the potential for recovery based on Doodles' brand strength and future plans.

DOOD's Rocky Start: A Price Plunge Analysis

The DOOD token’s price plummeted by over ten times immediately after launch. Within hours after its listing, the price plummeted from around $0.01057. Such a sudden drop was alarming both to investors and community stakeholders. A number of factors led to the deep recession. At first, airdrop recipients dumped their tokens and the token had no real utility. It’s typical for airdropped tokens to have sell-offs in the first few days as lucky recipients cash in on fast profits.

Comparing DOOD to PENGU: A Cautionary Tale?

The price action of DOOD is reminiscent of PENGU, the token linked to the Pudgy Penguins. PENGU, which launched in December 2024, cratered by almost 82% from its all-time high in a matter of weeks. Chart analysis indicates that both tokens exploded on launch, each within the first 12 to 48 hours. Then followed a sharp retracement and have gone on to fall further. Analysts are already making comparisons that may determine DOOD’s future trajectory. They figure that once all the initial hype dies down it should sink back down towards the $0.05-$0.10 realm.

Market Cap and Tokenomics

Doodles would need to have a market cap of 60-67 million dollars to dwarf Pudgy Penguins’ current multi-billion dollar (2.25B) market cap. Like Pudgy Penguins, Doodles is attempting to create a network effect where token growth drives NFT value and vice versa, and rising NFT demand boosts the token. In fact, both projects distributed the majority of their total token supply through airdrops to NFT holders. That’s higher than the 23.5% of its total supply (20.9 billion PENGU) Pudgy Penguins allocated but lower than the 30% Doodles allocated to its tokens.

Doodles' Strategy for Recovery: Base Migration and Binance Hopes

Doodles has several strategies in place to potentially revive the DOOD token and enhance its utility.

Migration to Base

In response, Doodles recently revealed their intentions to migrate The Stoodio to Base in mid-July. This decision was made in order to utilize Base’s transactions that are both speedier and cheaper, in comparison to the Ethereum mainnet. Doodles wants to take advantage of Base’s lower-cost, faster transactions. This will allow them to begin developing valuable data and insights into patterns of user interactions with their products and digital collectibles. That data can and should be used to iterate on that experience to make it better and accelerate continued adoption.

Binance Listing: A Missed Opportunity?

On May 9th, 2025, the DOOD token was listed across both Binance Alpha and Futures. It was not on the primary Binance exchange. These two astute users of the platform had wished for a complete canonical full listing which would have made their token dramatically more visible and liquid. Binance disclaimer Binance does not ensure a complete Binance listing just by supporting an airdrop or trading Alpha/Futures. In order for DOOD to reach $1, it would require a magnificent rally of nearly 12,000%. This jump is doubtful without a huge catalyst like a meme mania or deep Binance listing.

Future Viability

Thus, ensuring the long-term success of the DOOD token relies mostly on three main drivers. Doodles needs to deliver on its promises, drive adoption of its overall ecosystem and form important partnerships. While the initial price drop was discouraging, Doodles' strong brand, dedicated community, and strategic initiatives provide a glimmer of hope for the token's future. Whether that makes DOOD a "diamond" in the rough or not is yet to be seen, but its potential definitely shouldn’t be overlooked.