The NFT market's a wild beast. We’ve all witnessed the meteoric but unsustainable rises as well as their equally swift declines. Doodles, cast in a colorful cartoon aesthetic, has always been the big dog. This sudden 97% sales surge? Just days before the DOOD token launch? If it smells too good to be true, that’s because it probably is.

Is it all about the Airdrop?

Let's be blunt: the imminent DOOD token airdrop is the elephant in the room. Naturally, Doodles holders are going to want a piece of that sweet, sweet airdrop. That growth was compounded as they enjoyed a 97% increase in sales. On May 8th, this translated to $1.1 million in sales, putting them in third place for daily NFT sales. But is it organic? Or is it driven by reasons that are… nasty?

Imagine the excitement of the pre-IPO road show for a wildly successful tech company. Now, everyone wants a piece, driven not just by hype, but the high horse of future riches. Often, only the insiders truly benefit. Are we seeing the same thing here? Are everyday NFT fans in danger of becoming obsolete? It looks like whales and early adopters are getting ready to cash out as we the bag holders step in.

Binance & Bybit: Friends or Foes?

The reality that Binance and Bybit are already queued up to list DOOD right out of the mint is a red flag. These aren't your average decentralized exchanges. They wield a tremendous amount of power, and their decision to list or not can make or break a project. Is this a sign of legitimacy? Might this be an indication that other stakeholders are already all in? They may be setting themselves up to make a fortune off of the title wave of first bubble enthusiasm.

Think about it: a coordinated listing on two major exchanges guarantees liquidity and visibility. It's practically a green light for FOMO. And who benefits most from FOMO? Not the every day access Joe just trying to win a Doodle. The private investors were smart enough to get on the supply side before the hype train was even hitting full throttle. These guys were already all in and primed to cash in.

This entire mess is starting to feel a lot like the lead up to the 2008 financial crisis. They had been bundling those toxic mortgages and selling them off as AAA-rated securities. The developers were profiting. 3 Ways to Prosperous… Yo Until it all came crashing down. Are we witnessing the same type of “financial engineering” used here — just instead with NFTs and memecoins?

Tokenomics: Long-Term or Short-Sighted?

68% to the community sounds generous, right? Break it down: 30% to Doodles, 13% to New Blood, and 25% to the ecosystem fund. The devil's always in the details.

  • Doodles (30%): Who controls this? Presumably, the Doodles team. That's a significant chunk of the pie.
  • New Blood (13%): Another internal allocation. Less transparent than the community allocation.
  • Ecosystem Fund (25%): How will this fund be managed? Who gets to decide which projects receive funding?

Next, there’s the 17% set aside for the team and 5% for a company, both of which are vested. Vesting schedules are good. They incentivize long-term commitment. Are they long enough? Or are they really looking out for their community’s best interests? Or are they simply a new gimmick to maximize profits for a few more CEOs?

The remaining 10% for liquidity is crucial. The real question is will it be enough to hold against a likely sell-off that follows the airdrop?

This isn’t to say Doodles is a pump and dump for sure. All I am arguing is that we should be very careful. Look beyond the hype. Dig into the data. Analyze the wallet activity. Find out who owns the most, who is selling, and how concentrated their ownership is.

AllocationPercentageNotes
Community68%Breakdown: 30% Doodles, 13% New Blood, 25% Ecosystem Fund. Needs deeper scrutiny.
Team17%Subject to vesting. Vesting period needs to be carefully considered.
Company5%Subject to vesting. Same concerns as Team allocation.
Liquidity10%Crucial for stability. May be insufficient to handle post-airdrop sell-off.

Follow the Money, Find the Truth

This 368% weekly growth—soaring it into fifth place among all NFT collections with $2.6 million—is impressive, no doubt about it. Impressive doesn't equal sustainable. Remember Beanie Babies? Remember the dot-com bubble? Beautiful design and cool tech takes a project only so far. Hype can’t sustain a project. At the end of the day, it’s that intrinsic value and that community muscle that carries the day for the long haul.

Don't let FOMO cloud your judgment. Do your own research. Ask tough questions. And remember: if something seems too good to be true, it probably is. The NFT market is maturing, and it’s time we start expecting greater transparency and accountability from the projects we choose to get behind. Otherwise, we’re all just pawns in someone else’s get-rich-quick scheme.

Don't let FOMO cloud your judgment. Do your own research. Ask tough questions. And remember: if something seems too good to be true, it probably is. The NFT market is maturing, and we need to demand more transparency and accountability from the projects we support. Otherwise, we're all just pawns in someone else's get-rich-quick scheme.