After the $54 million fundraising announcement, Doodles trading volume skyrocketed.informationAccording to DappRadar, volumes rose to $2.48 million midweek.
On the other hand, the floor price rallied above 8 ETH before falling near 7.64 ETH at the time of writing.
Doodles recently raised $54 million at a valuation of $704 million.fundraisingIt is led by Reddit co-founder Seven Seven Six and other participating companies such as 10T Holdings, Acrew Capital and FTX Ventures.
With the latest funding, Doodles has revealed plans to increase its strategy to grow and monetize its intellectual property around the world. With the help of investments in the music, culture and entertainment industries.
The new funds will be used for product development, acquisitions, proprietary technology, media, and collector experience.
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