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Bitcoin inflows and price trends have boosted Bitcoin Dogs presale.
Bitcoin Dogs has additional use cases in gaming, NFTs, and the metaverse.
The Bitcoin Dogs presale concludes on March 15
Bitcoin Dogs ($0DOG) is a crypto token on demand. Since launching its presale on February 14, the token has encountered an unprecedented demand. In barely three weeks, over $6.8 million worth of tokens have been purchased. The presale frenzy has been fueled by the connection between Bitcoin Dogs and the Bitcoin blockchain. Conversely, Bitcoin (BTC) has posted strong gains, hitting a price above $65,000. Expectations are that BTC could surpass its prior record as a string of events support a bullish 2024. As investors continue to make speculations, Bitcoin Dogs has been the core beneficiary.
Bitcoin to hit a new record as inflows intensify
A new Bitcoin price could be on the cards, as the cryptocurrency approaches its record of $69,000. At the time of this publication, the largest cryptocurrency was trading at $65,200. According to Markus Thielen, the founder of 10X Research, Bitcoin could surpass its previous record price.
Thielen points to the increased inflows into Bitcoin products after the approvals of spot ETFs. The 10X Research founder says inflows into spot ETFs have outpaced the number of Bitcoins created per day. He notes the situation has widened the supply-demand imbalance to 1:10.
The supply crunch is also highlighted in reports that OTC trading desks handle large institutional clients. This has resulted in balances falling from almost 10,000 BTCs in Q2 2023 to below 2,000 BTCs.
Bitcoin Dogs: First BRC20 token benefiting from Bitcoin legacy
Bitcoin Dogs is the first-ever ICO on the Bitcoin blockchain. As the frenzy around a record BTC price grows, analysts bet that Bitcoin Dogs is best placed for success. This is noticeable from the fire presale, in which 90% of 900 million minted tokens will be offered.
Notably, Bitcoin Dogs ride key Bitcoin’s bullish events, such as institutional adoption after the approvals of spot ETFs. The Bitcoin halving in April, which is also boosting BTC price, is attracting investors to Bitcoin Dogs.
To many, Bitcoin Dogs is an opportunity to own a stake in the legacy Bitcoin blockchain. This has positioned Bitcoin Dogs as a high-potential project and token, boosting its presale.
Bitcoin Dogs: An utility token in NFTs, metaverse, and gaming
The drive towards Bitcoin Dogs is also informed by its massive use cases. As such, investors are exposed to the world of NFTs, gaming, and metaverse. This expands the scope of benefits previously unavailable to users of the parent Bitcoin blockchain.
In fact, Bitcoin Dogs will be the biggest Bitcoin Ordinals NFT collection. 10,000 unique and collectible tokens will be available to the token holders. Users can curate and sell the NFTs on a decentralised market.
$0DOG holders will also be treated to breakthrough experiences through Dogaverse. The Bitcoin Dogs Club Metaverse, features immersive interactions on the virtual world. Interactions can range from social chatter and competitions. By being dog holders by default, $0DOG holders can also participate in dog training sessions and more.
11 days to go: FOMO building as presale end date set
Investors have been buying Bitcoin Dogs to catch up with the March 15 deadline. From here, the token will be up for listing, triggering bullish movements. The presale frenzy has been cemented by the tokens bought and a growing community.
For example, on Telegram, the project has over 21,500 members. On Twitter, Bitcoin Dogs has amassed over 122,000 followers. Bitcoin Dogs team leverages social platforms to keep the community informed and engaged.
As the presale approaches its finish line, the price of $0DOG is also rising. This has made the token attractive to early buyers when it is lowly priced.
Investors interested in the Bitcoin Dogs presale can visit the project’s official website page.
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