Japanese exchange and Ripple ally SBI VC Trade has launched a Shiba Inu and Dogecoin reward campaign.
Current outlook revives optimism that may push DOGE and SHIB to their new year high.
SBI VC Trade, a company created by the Japanese financial giant SBI Group, and a major partner of Ripple has announced a celebratory campaign that could see Shiba Inu (SHIB) and Dogecoin (DOGE) enthusiasts earn massive rewards.
Details of the SBI VC Trade Campaign
This campaign commemorates the birthday of Kabosu-chan, the beloved internet personality who served as the inspiration behind the Shiba Inu and Dogecoin cryptocurrencies, which falls on November 2.
SBI VC Trade has provided specific details of the campaign through its official blog and the X platform. The campaign encourages users to engage in Shiba Inu and Dogecoin transactions and participate in a coin lending initiative from Nov 2 to December 1, 2023.
To qualify for rewards, participants must meet certain criteria. The campaign targets two groups of customers. The first group involves individuals who enter into a contract to purchase SHIB with a value of 50,000 yen or more during the campaign period, while the second group involves individuals who do the same for DOGE.
According to the announcement, participants in the promotion will receive rewards based on their purchases. For SHIB transactions, qualifying customers will receive an amount equivalent to 1% of their Shiba Inu purchase contract price in SHIB. The same 1% commission applies to Dogecoin transactions.
In addition to these incentives, SBI VC Trade is also offering a special gift of “Kabosu fruit juice” to customers who open a new account as part of the campaign. The initiative not only serves as a unique way to celebrate Kabosu-chan’s birthday but also fosters engagement within the Shiba Inu and Dogecoin communities in Japan.
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New Year Highs on the Horizon for SHIB and DOGE
As news of this campaign spreads, many in the crypto community are predicting new all-time highs for both Shiba Inu and Dogecoin as the year journeys to a close. Moreover, the Ripple connection has the potential to usher in a new era for these memecoins, introducing features and functionalities that could set them apart from their memecoin counterparts.
Dogecoin has had an eventful journey since its creation. It started as a playful digital asset but gained immense popularity thanks to endorsements from high-profile figures like Elon Musk and Mark Cuban.
Data from Marketcap pegs DOGE’s price at $0.06738 down 2.36% overnight. Dogecoin has been in a consolidation phase for the past six months, repeatedly rebounding from an ascending support trendline in the $0.055-$0.06 range on three separate occasions. These reversals suggest that buyers are actively entering the market at these levels, seeing them as appealing entry points.
Similarly, Shiba Inu, priced at $0.000008 is often referred to as the “DOGE killer,” has been steadily gaining traction in the crypto space. Recent partnerships and increased interest from retail investors have contributed to its remarkable surge in value.
With the recent announcement, SHIB holders are anticipating a substantial boost in the coin’s value. A collaboration between the Japanese ally and SHIB could result in improved liquidity, increased accessibility, and perhaps even utility within the Ripple ecosystem.
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