Bitcoin Dogs has reached an impressive milestone, raising a total of $10.6 million as it approaches the final 48 hours of its presale. After this period, the 0DOG tokens will be open for public trading.
The ICO, marking the first-ever token built on the Bitcoin blockchain, kicked off on February 14th. It gained traction swiftly, aided by a product video that garnered thousands of views and fueled viral growth. Within just under 30 days, Bitcoin Dogs amassed a community of over 110k followers on X and more than 25k members on Telegram.
The project’s success can be largely attributed to its innovative use of the Bitcoin ordinals protocol, introduced in 2023. This protocol update enables token minting and NFTs directly on the Bitcoin blockchain, positioning Bitcoin Dogs within the Web3 landscape. The project offers the 0DOG token, an NFT collection, and a GameFi experience to its investors.
Currently priced at $0.0404 in its final stage of the presale, the 0DOG token will soon be available for public trading.
In the closing hours of the presale, 0DOG remains available for purchase at $0.0404, marking the final fixed price before public trading begins.
At the conclusion of the presale, any unsold tokens will be burned, effectively removing them from circulation. This process allows the market to determine the ultimate total supply, initially set at 900 million 0DOG tokens.
Token burns, like this, often lead to reduced supply, potentially driving up the price of 0DOG should demand persist. Such deflationary mechanisms have historically contributed to the long-term value of tokens like Bitcoin and various other cryptocurrencies.
Anticipation surrounds the upcoming Bitcoin halving scheduled for April, typically associated with increased scarcity. The team speculates that this event could propel Bitcoin prices beyond the previous all-time high of $72,968. Moreover, they anticipate a ripple effect across the broader crypto markets, potentially benefiting from the ensuing hype.
The presale is set to conclude on Friday, March 15th.
