Doodles founder created Poop Token, at launch two wallets hold 38% supply

In the latest sign that the crypto market is sustainable Meme coin fever Probably the co-founder of the famous Doodles NFT Brand released a surprise POOP token for community members over the weekend.

It sparked excitement, but also some controversy—as a large portion of the total supply was quickly taken by “snipers,” prompting accusations from insider traders.

Co-founder of Saturday Doodles Jordan “Poppy” Castro Suddenly in a Blog post He flogged a meme coin with little natural value beyond dealing with feces. The POOP token was launched on basisis the Ethereum scale network developed by Coinbase which is the latest meme coin trading. point of contact.

“No promises or guarantees of anything,” Castro wrote about POOP. “That could be worth less than zero, like a hot, steaming pile of dung.”

Past and present distribution of Poopcoin is left to Doodles stakeholders, including holders of associated NFTs (Doodles, Doodles). Genesis boxes, Duplicators, and one-on-one Doodles); Mints of the original Doodles and Genesis Box NFTs; And wallets involved in the management of Doodlebank, the community's on-chain treasury.

Despite Castro's clear connection to the Doodles brand and the token's airdrops throughout the Doodles ecosystem, POOP has no official affiliation with Doodles (an explanation that some community members were initially confused by).

Within minutes of POOP's launch, POOP tokens were airdropped – sent to more than 14,000 wallets – worth a total of $3 million. But members of the Doodles community weren't the biggest beneficiaries of Castro's “flood experiment.” Not even close.

Following the launch of PoopCoin – before Castro announced the token – two wallets were held out of the total supply of POOP tokens. Bubble maps.

One of those wallets—to use CryptoPalance—“loaded” 23.5% of the entire Poopcoin supply in seconds, before the bounty was quickly divided among 54 on-chain addresses. That sum of POOP tokens was worth roughly $5 million at the time. The cost of the whole POOP air drop is much higher all of them Doodles community members.

Another wallet had 15% of the total POOP supply mined before Castro's announcement, amassing a massive wallet of tokens worth around $3 million.

Implications that the two embattled users of the token's launch received some unfair advantage or insider tips started making the rounds on Crypto Twitter. But soon one of the POOP shooters revealed himself as a mask PrankA popular anonymous NFT collector.

When told by BubbleMaps' Twitter account how they were able to buy POOP so quickly, Pransky immediately responded: 40 minutes before Castro announced Poopcoin, the Doodles founder had already released the token to members of the Doodles community.

Pranksy, the owner of Doodles, said that they just wanted to buy the token ID and bought as many as they could within minutes of the token starting to fluctuate in value. They ended up with 15% of the total token supply.

Not much of a mystery, it turns out. Apparently, Castro's “fat poo experiment” has so far proven that fecal matter does not come down evenly. And POOP, meanwhile, is down about 65% in the last 24 hours, at CoinGecko. It is currently trading at less than half a percent of the token.

Edited by Andrew Hayward.