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Doodles NFT Founder’s Token Tease Sparks NFT Floor Price Surge
December 20, 2024 – In a sudden and unexpected turn of events, the price of Doodles NFTs has skyrocketed by 59.9% in just 24 hours, reaching an astonishing floor price of 8 ETH before stabilizing at 6.7 ETH.
The rapid surge is directly attributed to Burnt Toast (Scott Martin), the founder of Doodles, cryptically hinting at a potential token launch through a mysterious message. “Take ownership, keep evolving new ideas, shape communities, open minds, inspire new growth,” he wrote, sending shockwaves throughout the NFT community.
The speculation sparked by this enigmatic post was further fueled by artist Nate Alex’s response: “token is incoming” (@natealexnft). This seemingly innocuous comment has ignited a frenzy among investors and collectors alike, driving trading volume to an impressive 4,099.53 ETH and resulting in a market capitalization of $230,899,825.
It’s worth noting that this sudden price increase occurs against the backdrop of the broader crypto market experiencing bullish momentum, commonly referred to as the “Trump trade”. Meanwhile, NFTs had been struggling to regain their former profitability. However, Pudgy Penguins’ recent token release via an airdrop appears to have breathed new life into the space.
The successful launch of $PENGU tokens has not only generated immense buzz but also served as a catalyst for other projects to reconsider their own ecosystem-building strategies. Whether Doodles will follow suit and issue its own token remains uncertain, though it’s undeniable that this development has energized the NFT market.
What does this mean for investors and collectors?
Source: www.cryptonewsz.com
