The Doodles token, operating on the Solana platform, experienced a decline in value following the support announcement from Binance. This event sparked mixed reactions in the market.
Doodles Token Listing Announcement
Binance announced the listing of the Doodles (DOOD) token on the Binance Alpha platform, scheduled for May 9, 2025. On the same day, DOOD/USDT futures will be available with leverage options up to 50x.
> Binance announcement: "We are delighted to announce the listing of Doodles (DOOD) at 13:00 on May 9, 2025. Moreover, the DOOD/USDT Futures Contract with leverage going up to 50x will start at 13:30."
Decline in Doodles Token Value
The price of the DOOD token swiftly fell from $0.00807 to $0.00686 on the morning of May 9. Likely, many major investors, who were awaiting the listing announcement, sold the news upon its arrival, a common occurrence in the crypto market.
Doodles Ecosystem and Capabilities
Established in 2021 by Canadian artist Burnt Toast, Doodles originally offered 10,000 unique NFTs and has since expanded into live storytelling and gaming spaces. Users can create unique avatars and access content through the Stoodio app.
> Doodles explanation: "Within Stoodio, users can create and customize their Doodles avatars, gather digital items, and connect with a global community."
The support provided to the Doodles platform by Binance did not result in the expected price growth for its tokens, underscoring that exchange listings do not always positively affect asset values. Investors continue to closely monitor such market fluctuations.
