- The significant impact of a surprise airdrop of Poopcoin to the Doodles community by its co-founder, Jordan Castro.
- Airdrops have emerged as a common strategy in the crypto space to distribute tokens to existing token holders or early adopters, fostering community engagement and driving trading activity.
In a surprising move, Jordan Castro, also known as Poopie, one of the co-founders of the Doodles NFT project, initiated an unexpected airdrop to the Doodles community, introducing a new token called Poopcoin, with the ticker symbol $poop.
The launch of Poopcoin, occurring just ten hours prior to the time of publishing, has already seen a staggering trading volume of nearly $60 million, resulting in a market capitalization of approximately $7 million, albeit diminishing rapidly throughout the day.
The announcement of Poopcoin came through X, with Poopie sharing the news in response to a recent blog post by Ethereum co-founder Vitalik Buterin. Buterin’s post addressed the memecoin ecosystem, distinguishing between intentionally offensive memecoins and those that contribute positively to the ecosystem.
Poopcoin, despite its humorous name, was airdropped to holders of Doodles NFTs and certain early adopters, including individuals who originally minted a Doodle NFT, even if they have since sold it. Notably, Poopcoin was created on Base, the Ethereum Layer 2 network developed by Coinbase.
Following the announcement, blockchain analytics firm Bubblemaps reported that within moments, two wallets had acquired over 36% of Poopcoin’s total supply, surpassing the allocated portion for community members and early adopters, which stood at 15%. One of these wallets, securing 23.5% of the token’s supply, distributed its holdings across 95 wallets and has already realized profits amounting to $450,000, as per data shared by Bubblemaps.
Poopcoin Launch Triggers Trading Frenzy
The launch of Poopcoin by Doodles co-founder Jordan Castro, also known as Poopie, has ignited a rapid trading frenzy within the cryptocurrency community. With millions worth of trading volume exchanged within hours of its release, Poopcoin’s emergence underscores the enduring appeal and speculative nature of meme coins in the crypto ecosystem.
As investors eagerly engage in trading activities surrounding this new token, the dynamics of meme-based cryptocurrencies continue to evolve, shaping the landscape of digital assets.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
