What’s the Buzz About Doodles and $DOOD?

If you’ve been keeping an eye on the NFT space, you’ve probably heard of Doodles—a popular NFT project featuring 10,000 colorful cartoon characters launched back in 2021. On April 3, 2025, a user named FabianoSolana (@FabianoSolana) posted a thread on X that caught a lot of attention. The thread dives into the upcoming $DOOD token airdrop by Doodles, comparing it to other NFT projects like Pudgy Penguins and Azuki, and asking a big question: is it worth buying a Doodles NFT to get in on the airdrop?

Let’s break down the thread, analyze the $DOOD token’s potential, and see if this is a golden opportunity or a risky move.

The $DOOD Token Launch: What We Know So Far

Doodles announced their $DOOD token launch on Solana back in February 2025, as shared in a Decrypt article. With a total supply of 10 billion tokens, 30% of $DOOD is set to be distributed to the Doodles community, primarily targeting holders of Doodles OG NFTs. FabianoSolana estimates that $DOOD’s fully diluted valuation (FDV) might hover around $200 million at launch, though it could spike briefly during the token generation event (TGE).

For context, FabianoSolana compares $DOOD to other NFT-backed tokens:

• Pudgy Penguins’ $PENGU: Launched with an FDV of $368 million, peaking at $3.5 billion, but now sitting at $317 million as of April 2025.
• Azuki’s $ANIME: Currently at $163 million FDV, with a peak of $900 million.

Given the current market downtrend, FabianoSolana doesn’t expect $DOOD to surpass these numbers significantly, predicting a range between $160 million and $370 million.

How Much Could You Earn from the $DOOD Airdrop?

FabianoSolana’s thread includes a handy chart estimating potential airdrop rewards based on $DOOD’s FDV and allocation percentage. If 17% of the token supply is airdropped (a reasonable assumption based on similar projects), you could earn:

• At $200 million FDV: $3,400 per Doodle NFT.
• At $300 million FDV: $5,100 per Doodle NFT.
• At $400 million FDV: $6,800 per Doodle NFT.

Pudgy Penguins holders reportedly made thousands from their $PENGU airdrop, with some earning up to $3 million for holding 25 Pudgy Penguins NFTs, according to CCN. However, the catch with Doodles is the cost of entry—buying a Doodles NFT isn’t cheap.

The Cost of Entry: Doodles NFT Price and Risks

As of April 2025, the floor price for a Doodles NFT is $5,328 (or 2.92 ETH), according to CoinGecko. FabianoSolana notes that after the $DOOD token announcement on February 12, the NFT price spiked from 3.78 ETH to 4.64 ETH but has since cooled off. Post-airdrop, if no further rewards are announced, the NFT price could drop to 1.5 ETH—a potential loss of 1.4 ETH, or about $2,500 at current ETH prices.

Here’s a quick profit/loss scenario:

• If you earn $4,000 from the airdrop but sell the NFT at a $3,000 loss, you’d still net a $1,000 profit.
• However, if the market continues its downtrend and ETH’s price drops, your dollar-value loss could be higher even if you sell during a pre-airdrop pump.

FabianoSolana highlights this market risk, noting that a declining ETH price could eat into your profits, even if you time the NFT sale well.

Community Reactions and Timeline

The X thread sparked some engagement. A user, @_Twigzzz, asked when the $DOOD token would go live, to which FabianoSolana replied, “probably Q2” (April to June 2025). Another user, @WEENdotfun, expressed hope that $DOOD would “cook” (perform well), reflecting the community’s anticipation.

Is It Worth Buying a Doodles NFT for the $DOOD Airdrop?

Let’s weigh the pros and cons:

Pros

• Potential Profit: If $DOOD launches at a $200–$400 million FDV, you could earn $3,400 to $6,800 per NFT, potentially outpacing your losses.
• Community Allocation: With 30% of the supply going to the community, Doodles is prioritizing its holders, similar to Pudgy Penguins’ successful airdrop strategy.
• Solana’s Momentum: $DOOD is launching on Solana, a blockchain known for its popularity with meme coins, which could drive hype.

Cons

• Market Downtrend: The broader crypto market is trending downward, which could impact both $DOOD’s value and the Doodles NFT floor price.
• High Entry Cost: At $5,328, buying a Doodles NFT is a significant investment, and a post-airdrop price drop could lead to losses.
• Uncertainty: Unlike Pudgy Penguins, which saw massive airdrop gains, $DOOD’s success isn’t guaranteed, especially in a bearish market.

Final Thoughts

The $DOOD airdrop presents an intriguing opportunity for NFT enthusiasts, but it’s not without risks. If you’re considering jumping in, you’ll need to weigh the potential $3,400–$6,800 airdrop reward against the $5,328 cost of a Doodles NFT and the possibility of a $2,500 loss if the NFT price tanks post-airdrop. The market’s current downtrend adds another layer of uncertainty—ETH’s price volatility could shrink your profits in dollar terms.

For those already holding Doodles NFTs, the airdrop could be a nice bonus. But if you’re buying in now, proceed with caution and keep an eye on market trends. What do you think—will $DOOD be the next big NFT token, or is the risk too high? Let’s hear your thoughts!