Doodles announced that it will issue the meme coin DOOD on Solana! The weekly trading volume of Non-fungible Tokens soared to $16 million.

Doodles announced the issuance of meme coin DOOD on Solana! Weekly trading volume of Non-fungible Tokens soared to $16 million. (https://img.gateio.im/social/moments-71702cc0202df97dd56d5a1bf3620020 “Doodles announced the issuance of meme coin DOOD on Solana! Weekly trading volume of Non-fungible Tokens soared to $16 million”)

The cryptocurrency community (120bTc.coM): The new team of Doodles announced that after the issuance of $DOOD Meme coin on Solana, the weekly trading volume of Doodles Non-fungible Tokens soared to $16 million. This wave of bull market is the second wave of Ethereum Non-fungible Tokens since the peak of $24 million in trading volume driven by the native Meme coin $PENGU of Pudgy Penguins. During the exposure period of the news that Doodles will issue coins on Solana, the floor price of Doodles Non-fungible Tokens also surged to 6.3ETH, and then stayed around 3.7ETH. Although the trading volume of Doodles Non-fungible Tokens is very active, over the past few weeks, the total trading volume of ETH Non-fungible Tokens has only been around $46 million, leaving a lot of question marks about the future of the Ethereum Non-fungible Token market.

The Doodles team recently accepted an interview from collector Hunter Orrell, sharing why they chose to issue coins on the Solana chain. They stated that there are many OGs in the Solana community and foundation who support each other. Doodles’ founder and artist Burnt Toast(Scott Martin) returned to the management level at the end of January, taking over from Julian Holguin as CEO of Doodles. Doodles is committed to promoting IP cooperation, starting a joint coffee collaboration with McDonald’s last year, and preparing to expand its brand image through coin issuance in the future.

In the past, Bored Ape Yacht Club and Cool Cats have also employed traditional professional managers to take charge of the company at a high level, but eventually returned to the original founders, original artists, and blockchain OGs. Doodles is no exception. Burnt Toast stated that Doodles’ new positioning is to establish a community with innovative exploration, complete transparency, and authenticity, which are the true values of the Non-fungible Token community.

The community expects $DOOD to have more airdrops and to rise significantly, with polarized evaluations of token distribution

Doodles chooses to issue coins on the Solana chain. For the community, although Doodles is committed to developing more IP products and empowering them, they hope to have more. Doodles claims that the tokens will be mainly distributed to the community, but the allocation shows that only 30% of community members will receive them, and they will have to wait for up to one year for the Vesting( to cash out the tokens). This token issuance will allocate 25% to funding operations, 17% to the Doodles team, and 5% to the company. In other words, a total of as high as 47% of the funds will still enter the Doodles project fund pool, and this distribution method may not satisfy the community.

In the past, Doodles also issued Poopie on the Base chain and airdropped it to the community, but it was also a flash in the pan of rapid rise and fall.

Another Ethereum Non-fungible Token blue chip project has moved to the Solana chain for further development, proving that Solana seems more attractive to newcomers in the coin circle. Ethereum’s gas fees have remained high during the L1 period, causing many collectors who spent money collecting Non-fungible Tokens to face the dilemma of being unable to resell and profit, leading to being trapped. When gas fees decrease, the craze for Ethereum’s Non-fungible Tokens has passed. Blue-chip projects are looking forward to continuing operating teams with IP authorization. However, for most newcomers and veterans in the coin circle, how to recover their initial investment and secure profits, such as receiving airdropped tokens and holding them until the price rises, is of paramount importance.