Poopcoin 🇺🇸💩

Spring had just begun and with it, a spring of new memecoins. A new token with a transcendent name, whose creator is well known, has emerged - $poop by Jordan “Poopie” Castro, co-founder of Doodles.

Doodles made a name for themselves back in 2021 with their NFT collection and survived through the entirety of the bear market. We have previously covered some rather interesting facts on Doodles as a topic, specifically transfers between Poopy and Pranksy. More information can be found on the following tweet:

However, the topic of today is the token launch. Let us dive on-chain, using Bubblemaps, to discover what happened to the highly anticipated $poop token.

Airdrops, Sniper bots, and Insiders

As the launch was announced, the description used wording such as “experimental” and used visuals including an oozing turd pile. The holders of Doodles NFTs were eligible for an airdrop, specifically 13.40% of the supply had been reserved for that purpose. The airdrop is visible via a 14,100 wallets cluster on Bubblemaps.

However, there’s more (and there’s almost always more). Namely, a suspicious cluster holding 23.5% of the supply can be seen on Bubblemaps, which was bought by wallet 0x639a using a sniper bot. The supply was spread into 54 different wallets, with a total profit of $5 million

Another wallet made $3 million by buying 15% of the supply prior to the project’s public launch. Yet again, the tokens were dispersed among 12 different wallets. The original wallet, which had bought the supply, is owned by Pranksy, who has been closely linked to the project since its inception

As with many new token launches, $poop was not spared by snipers and insiders, leading to an uneven initial distribution of supply. Using Bubblemaps allows for more transparency in black and white.