As the last 48 hours of its presale draw near, Bitcoin Dogs has raised an astounding sum of $10.6 million. Following this, the 0DOG tokens will go up for trade to the general public.

On February 14th, the initial coin offering (ICO) for the first token created on the Bitcoin blockchain got underway. In less than 30 days, it gathered a community of more than 25k members on Telegram and over 110k followers on X thanks to its debut product video, which received thousands of views and became viral.

The remarkable reaction has been largely fueled by Bitcoin Dogs’ creative application of the Bitcoin ordinals protocol, which is a 2023 Bitcoin update that permits NFTs and token minting on the Bitcoin network. Given that investors can enjoy a GameFi experience, an NFT collection, and the project’s 0DOG token, Bitcoin Dogs fits comfortably into a variety of Web3 groups.

0DOG can be bought now for its final stage price of $0.0404 before going on sale to the general public. The Friday, March 15th, presale will end.

The smallest denomination of a bitcoin, known as a satoshi or “sat,” can have collectibles and unique tokens written on it, thanks to Ordinals. As a result, NFTs and “BRC-20” tokens have exploded on the Bitcoin network, and according to Grayscale, Bitcoin is currently competing with Ethereum to become the leading NFT chain.

Bitcoin Dogs use ordinals in two ways, which could make it the protocol’s flagship project. First of all, being produced in accordance with the BRC-20 standard, 0DOG tokens are stored and transferred via the Bitcoin network in a manner akin to that of ERC-20 tokens on Ethereum, such as SHIB. Since their launch last year, BRC-20 tokens have gained enormous popularity; two of them are still among the top 100 cryptocurrencies by market capitalization.

Second, utilizing Ordinals to engrave graphics on satoshis, Bitcoin Dogs will mint 10,000 NFTs on the Bitcoin blockchain, exclusive to 0DOG holders. Ordinals NFT collections, such as NodeMonkes and Bitcoin Frogs, have gained popularity recently; the latter sold $1 million worth of merchandise in the first few days of March.

In addition to using the ever-popular “doge” type images, Bitcoin Dogs uses the same 8-bit graphic style as these projects.

The team behind Bitcoin Dogs is hopeful that the use cases for Ordinals will allow them to capitalize on the overall optimism that the Ordinals protocol generates. The group hopes owners will follow in the footsteps of ORDI and other well-known NFT collections.

0DOG is presently available for purchase at $0.0404, the last fixed price before the token is made accessible for public trading, as its final 48 hours draw closer.

Any unsold tokens after the presale will be destroyed, and they will be eliminated from circulation forever. This implies that the market will finally determine the entire supply, initially set at 900 million 0DOG.

If demand persisted, a burn would theoretically raise the price of 0DOG by reducing the supply. Such deflationary forces have been attributed to the long-term value creation of tokens such as Bitcoin and many other cryptocurrencies.

The team believes that the April halving of Bitcoin, typically accompanied by increasing scarcity, might push prices over the all-time high of $72.968k. The group also anticipates that this upsurge will spread to other cryptocurrency markets, indicating that the larger crypto market may profit from the associated publicity.