London, United Kingdom, March 13, 2024, Chainwire
Bitcoin Dogs has now raised a spectacular total of $10.6 million as it approaches the final 48 hours of the presale, after which the 0DOG tokens will become available for public trading.
The ICO, the first ever for a token built on the Bitcoin blockchain, started on February 14. It debuted with a product video which racked up thousands of views and achieved viral growth, amassing a community of over 110k followers on X and more than 25,000 members on Telegramall in less than 30 days.
The exceptional response was made possible in large part by Bitcoin Dogs’ innovative use of the Bitcoin ordinals protocol, a 2023 update to Bitcoin that enables token mining and NFTs on the Bitcoin blockchain. This places Bitcoin Dogs firmly within a range of Web3 camps, as the project offers both its 0DOG token, an NFT collection, and a GameFi experience to those who invest.
0DOG is currently available for purchase at the final price of $0.0404 before it becomes available for public trading. The presale ends on Friday, March 15.
0DOG is available for purchase on the Bitcoin Dogs website.
Born and raised on Bitcoin
Ordinals allows collectibles and custom tokens to be written on satoshis, or ‘sats’ – the smallest denomination of a bitcoin. This allowed NFTs and ‘BRC-20’ tokens to flourish on the Bitcoin network, and according to GrayscaleBitcoin is now vying for the title of dominant NFT chain over Ethereum.
Bitcoin Dogs uses Ordinals in two ways, making it a potential flagship project for the protocol. First, the 0DOG token is issued under the BRC-20 standard, which means that 0DOG tokens are stored and transferred over the Bitcoin network, just like ERC-20 tokens like SHIB on Ethereum. BRC-20 tokens have been extremely popular since they debuted last year, and there are two more in the top 100 cryptocurrencies by market cap.
Second, only available to 0DOG holders, Bitcoin Dogs will mint 10,000 NFTs on the Bitcoin blockchain, using Ordinals to write images on satoshis. Ordinals NFT collections such as Bitcoin frogs and NodeMonkes have become popular in recent months, with the latter becoming popular $1 million in sales beginning of March.
Bitcoin dogs uses the same 8-bit graphics style as these projects, while additionally implementing the ever-popular ‘doge’ style visuals.
The Bitcoin Dogs team is optimistic that the use cases for Ordinals position Bitcoin Dogs to benefit from the general bullish sentiment surrounding the Ordinals protocol. The team hopes that owners will replicate the success stories of ORDI and other notable NFT collections.
The presale
As it approaches its final 48 hours, 0DOG is currently for sale at $0.0404, the final fixed price before the token becomes available for public trading.
At the end of the presale, all unsold tokens will be burned, permanently removing them from circulation. This means that the total supply, originally 900 million 0DOG, is ultimately determined by the market.
A burn would reduce supply, which could theoretically drive up the price of 0DOG if demand continued. Deflationary pressure as these are credited with creating long-term value in tokens like Bitcoin and numerous other cryptocurrencies.
The team expects that the Bitcoin halving, scheduled for April and traditionally associated with increased scarcity, may push the Bitcoin price above the all-time high of $72,968,000. Furthermore, the team expects this wave to continue into the broader crypto markets, suggesting that the broader crypto market could benefit from the resulting hype.
The presale ends on Friday, March 15.
About Bitcoin Dogs
Bitcoin Dogs is breaking new ground in the Bitcoin ecosystem. For the first time, NFTs, gaming, and new token types come together to offer the first ICO on the original Bitcoin blockchain. Bitcoin’s truly permissionless immutability is being leveraged to create the 0DOG token, while developing a play-to-earn (P2E) gaming experience and NFT collection exclusively for 0DOG holders.
For more information about Bitcoin Dogs (0DOG) users can visit the website.
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Contact
Bitcoin Dogs team
Bitcoin dogs
marketing@bitcoindogs.club