From Cointelegraph

May 9, 2025 6:15 PM:

The DOOD token from NFT project Doodles plummeted in market cap from over $100 million to around $60 million after its May 9 airdrop on Solana. NFTs in Doodle’s collection also dropped by 60% on May 9, valued at $31 million collectively. Doodles saw a surge in sales volume of $2.6 million over the past week.

NFT prices often dip post-airdrop as holders sell into the market, with Doodles NFT sales surging 97% on May 8 in anticipation. Doodles minted 10 billion DOOD tokens on Solana, planning to bridge them to Ethereum’s layer-2. Pudgy Penguins, another NFT project, experienced a similar 50% drop in token value post-airdrop, going from $2.8 billion to $900 million in market cap.

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2. Ethereum hits record high of $2,000 as demand for decentralized finance (DeFi) platforms rises. Network upgrades and strong developer activity contribute to the price surge.

3. NFT market experiences explosive growth, with total sales exceeding $300 million in February. Artists and collectors flock to digital art marketplaces, driving up prices for unique digital assets.: Doodles token struggles post-airdrop