The blazehound has three stages of growth - baby, adolescent, and adult. It will take approximately 15 hours to reach the adolescent stage and an additional 25 hours to reach the adult stage. This time can be halved by "playing" with your pet by making it do one of its two emotes. It appears that while the pet is with you, it generates its own pet points up to a cap of 30 points. When this cap is reached, simply making the pet do an emote will allow you to retrieve the generated points, making it possible to raise the pet in half the time.