London, United Kingdom, March 13th, 2024, Chainwire
Bitcoin Dogs has amassed an impressive $10.6 million in funding as it approaches the final 48 hours of its presale, after which the 0DOG tokens will transition to public trading availability.
The initial coin offering (ICO), a groundbreaking event for a token operating on the Bitcoin blockchain, commenced on February 14th. It kicked off with a product video that attracted a substantial viewership, leading to viral expansion. This surge in interest cultivated a community exceeding 110k followers on X and over 25k members on Telegram, all achieved within a month.
The remarkable success can be largely attributed to Bitcoin Dogs’ innovative utilization of the Bitcoin ordinals protocol, an update introduced in 2023 that facilitates token creation and NFTs on the Bitcoin blockchain. This strategic move firmly situates Bitcoin Dogs within the Web3 landscape, offering not only its 0DOG token but also an NFT collection and a GameFi experience to potential investors.
The current price for purchasing 0DOG stands at $0.0404 during its final presale stage before the token transitions to public trading. The presale is set to conclude on Friday, March 15th.
0DOG can be acquired on the Bitcoin Dogs website.
A Product of Bitcoin Innovation
The ordinals feature enables the inscription of collectibles and custom tokens onto satoshis, the smallest units of bitcoin. This functionality has fostered the flourishing of NFTs and “BRC-20” tokens on the Bitcoin network. According to Grayscale, Bitcoin is now vying for dominance as the primary NFT chain, surpassing Ethereum.
Bitcoin Dogs leverages the ordinals protocol in two primary ways, establishing itself as a potential flagship project for this technology. Firstly, the 0DOG token is compliant with the BRC-20 standard, allowing for storage and transfer over the Bitcoin network, akin to ERC-20 tokens such as SHIB on Ethereum. BRC-20 tokens have gained significant traction since their introduction last year, with two tokens maintaining positions in the top 100 cryptocurrencies by market capitalization.
Secondly, exclusively available to 0DOG holders, Bitcoin Dogs will mint 10,000 NFTs on the Bitcoin blockchain, utilizing ordinals to embed images on satoshis. Collections like Bitcoin Frogs and NodeMonkes, leveraging ordinals for NFTs, have experienced a surge in popularity, with NodeMonkes achieving $1 million in sales in early March.
Bitcoin Dogs adopts an 8-bit graphic style similar to these projects while incorporating the beloved “doge” imagery.
The Bitcoin Dogs team is optimistic about the potential applications of ordinals, positioning the project to benefit from the prevailing bullish sentiment surrounding the protocol. The team anticipates that owners will replicate the success of ORDI and other prominent NFT collections.
The Presale Event
As the final 48 hours approach, 0DOG is currently priced at $0.0404, the last fixed rate before public trading commences.
Upon the conclusion of the presale, any unsold tokens will be burned, permanently removing them from circulation. This mechanism allows the market to determine the ultimate total supply, initially set at 900 million 0DOG tokens.
A token burn could reduce the supply, potentially leading to a price increase for 0DOG if demand remains robust. Deflationary dynamics like this have been instrumental in establishing long-term value for tokens such as Bitcoin and various other cryptocurrencies.
The upcoming Bitcoin halving, scheduled for April and typically associated with heightened scarcity, is anticipated to potentially drive Bitcoin prices beyond the previous all-time high of $72.968k. Moreover, the team foresees this surge extending to the broader crypto market, suggesting that the overall crypto market could capitalize on the ensuing hype.
The presale is scheduled to conclude on Friday, March 15th.
About Bitcoin Dogs
Bitcoin Dogs is at the forefront of innovation within the Bitcoin ecosystem. For the first time, NFTs, gaming elements, and novel token formats converge to present the inaugural ICO on the original Bitcoin blockchain. Leveraging the inherent permissionless immutability of Bitcoin, the project introduces the 0DOG token, accompanied by a play-to-earn (P2E) gaming experience and an NFT collection exclusively tailored for 0DOG holders.
For further details on Bitcoin Dogs (0DOG), individuals can visit the website .
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Contact
Bitcoin Dogs Team
Bitcoin Dogs
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