Shiba Inu Unveils New Airdrop: What SHIB Holders Need to Know

• Shiba Inu and the Philtoken project are mulling a strategic partnership.
• In the meantime, Philtoken has launched an airdrop campaign for SHIB holders.

On Monday, October 21, the Shiba Inu (SHIB) project announced a new Philtoken (PHIL) airdrop for SHIB holders. The new airdrop campaign allocated 10 million PHIL tokens for eligible participants. Of this share, beneficiaries are guaranteed up to 500,000 PHIL tokens per wallet. 

PHIL Airdrop Eligibility Criteria

The PHIL airdrop aims to reward SHIB holders for contributing to the ecosystem’s growth. This airdrop is exclusively for self-custody Shiba Inu token holders. Only users holding SHIB in custodial wallets like Trust Wallet and MetaMask since August 28 can participate in the campaign. 

The Philtoken team captured a snapshot of eligible addresses at block height 20,627,000 on August 28. Eligible beneficiaries interested in the campaign must submit their non-custodial addresses on the claim page. Note that the airdrop reward is all about timing and some luck. As a result, the first 10,000 entrants are guaranteed a minimum of 500 PHIL.

Additionally, some users can boost their rewards to receive up to 500,000 PHIL per wallet. However, users must follow @PhilTokenETH and @shibtoken on X and retweet the airdrop announcement to qualify. Participants who carry out the above directives can double their reward through a  “Lucky Draw” with a grand prize of 250,000 PHIL. The team revealed the airdrop rewards will be distributed to participants on October 24.

An early pseudonymous Ethereum developer with the username ZZ_410 created the Philtoken. Launched earlier this year, the Phil project seeks to bridge the gap between internet hype and real-world impact. The project aimed to reshape the memecoin sector as a force for good rather than a playground for transitory trends. Phil embeds philanthropy into its core to unite the top 50 memecoins.

The Philtoken currently ranks as the 592th-biggest cryptocurrency, with a market capitalization of $45.9 million. PHIL has a maximum supply of 1 billion tokens. PHIL’s price rose over 136% within the last seven days to $0.04599. 

Shiba Inu-Philtoken Partnership?

Meanwhile, the Philtoken team has hinted at a potential partnership with Shiba Inu. In an X post, the team shared a picture with SHIB’s logo and PHIL. The post caption read, 

PHIL x Shibtoken-The journey has just begun.

The post quickly sparked excitement among SHIB and PHIL holders. Many anticipate a potential partnership between both ecosystems will ignite surging prices for their tokens.

Meanwhile, Philtoken plans to introduce a charity event for every new partnership it enters with other crypto projects. An eventual partnership between Shiba Inu and Philtoken will entice more users to use the platforms. As more users adopt these platforms and demand their tokens, prices are expected to climb higher.

Surprisingly, the PHIL token announcement has yet to boost SHIB’s price. As of this writing, SHIB was trading at $0.00001824, down 2.7% in the past 24 hours. In an earlier CNF post, technical indicators revealed that SHIB could increase more if whale action becomes amplified.