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Bitcoin Dogs has become one of the most successful Initial Coin Offerings (ICOs) of the year. After launching three weeks ago, the developers have now raised over $10 million as they prepare to launch it in key exchanges on Thursday. This article explores why Bitcoin Dogs has become so successful and what to expect ahead.
Bitcoin Dogs token sale soars
Bitcoin Dogs has become one of the best-performing token sales of the year as the developers succeeded in raising almost $11 million from investors. It has passed other popular token sales of the year like AltSignals and Memeinator. You can buy the $ODOG token here.
There are three main reasons why Bitcoin Dogs has outperformed other token sales this year. First, it is a pioneering platform that seeks to disrupt the blockchain industry by becoming the first ICO on the Bitcoin network.
This is a big issue considering that demand for Bitcoin-related assets has jumped sharply in the past few months. For example, Bitcoin Ordinals have become the fastest-growing players in the Non-Fungible Token (NFT) industry.
Similarly, Stacks, a platform that provides layer-2 solutions for Bitcoin’s ecosystem has become a leading player in the industry. Its token has more than doubled in the past few months.
Second, Bitcoin Dogs has an ambitious plan to dominate the cryptocurrency industry. According to its white paper, Bitcoin Dogs will create utility for the toke by having several features like a 10k NFT collection and a game.
Also, it has gained traction because of its dogs name, which many people associate with meme coins. Most meme coins, including the likes of Dogelon Mars, Floki Inu, and Pepe have all surged hard in the past few months. As a result, the total market cap of all meme coins has surged to over $65 billion.
Crypto bull run
Finally, Bitcoin Dogs has raised so much money as the crypto bull run gains steam. The most recent data shows that Bitcoin has soared to over $73,000 while the total market cap of all coins has jumped to over $2.7 trillion.
Bitcoin’s performance has been remarkable considering that it was trading at less than $1 15 years ago. This makes it one of the top-performing assets in the world. It has beaten the popular stock indices like the S&P 500 and Nasdaq 100.
In most cases, investors tend to move into other cryptocurrencies Bitcoin is soaring because of the Fear of Missing Out (FOMO).
Therefore, there is a likelihood that the Bitcoin Dogs token price will rally after being listed by leading exchanges like Binance, OKX, and Kraken.
Still, like all pre-sale tokens, there is a risk involved when investing in cryptocurrencies. As a result, you should only invest funds that you can afford to lose and embrace the best risk-management strategies like having a stop-loss and a take-profit.
This article first appeared at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison
