Shiba Inu Wins Two Special Events Celebrating SHIB in Japan

• SBI VC Trade launched two promotional events featuring SHIB and DOGE tokens to celebrate Japan’s Dog Day on November 1.

• The Doggie Contest encourages social media engagement, while the Doggie Race incentivizes SHIB trading with prize opportunities.

Japan’s SBI VC Trade has launched two unique promotional events, spotlighting the Shiba Inu-inspired tokens SHIB and DOGE, in honour of Japan’s Dog Day on November 1. These campaigns that are targeted to boost user engagement and celebrate dogs in the culture of Japan are meant to attract crypto enthusiasts and fans of the Shiba Inu tokens. This comes as the exchange remains committed to the duo since they are popular across the social media platform and have a massive following across the globe.

The two campaigns dubbed the “Doggie Contest” and the “Doggie Race”, give SBI VC Trade users an exciting way to participate. In the Doggie Contest, users are challenged to design an AI dog celebration image for X (formerly Twitter).

＜明日より #キャンペーン 実施

11/1は「犬の日」
柴犬モチーフの #DOGE #SHIB を対象とした【わんわんレース(購入キャンペーン)】を実施いたします

キャンペーン対象期間中に条件を達成された方の中から抽選で110名様に1,000円相当分のDOGEもしくはSHIBをプレゼント（要申込）… pic.twitter.com/OQAX0QCww7

— SBI VC Trade (SBI VCトレード） (@sbivc_official) October 31, 2024

The event runs from November 1, 10:00 AM, to November 8, 11:59 PM. Following this, SBI VC Trade will select 11 participants randomly, each awarded a 10,000 Yen Amazon gift voucher, with winners notified by year-end.

The Doggie Race targets active traders and runs from November 1 at 7:00 AM until December 1, 6:59 AM. In order to be eligible, users need to trade at least 10,000 Yen of SHIB, which automatically enrols them on the lottery. SBI VC Trade will choose 110 winners to receive 1,000 Yen in SHIB each, with the rewards provided before January 31, 2025. These measures are in line with SBI VC Trade’s plan to enhance the visibility of SHIB on the platform and forge a better relationship with the crypto community.

Expanding Utility of SHIB and DOGE Tokens

SBI VC Trade has also highlighted the changing use of SHIB and DOGE during these events. At first, both tokens were launched as memecoins, a type of joke coin, but they have since found applications in actual transactions. DOGE is accepted as payment for various services. Meanwhile, SHIB is still growing in adoption, especially in the NFT and dApps sectors. This support by SBI VC Trade proves that these tokens are no longer mere symbols of internet culture but have implications in real life in the larger world of cryptocurrencies.

SBI VC trading platform has endorsed SHIB in the past through various marketing strategies, such as a birthday bash for Kabosu-Chan, the Shiba Inu dog associated with the SHIB token. It also provides a lending service to its users, where they can earn passive income by lending the SHIB with an annual percentage yield of 1.3%, which is useful for the long-term HODLers of SHIB.

Despite these recent campaigns, SHIB and DOGE prices have seen limited immediate effect, with SHIB trading at $0.00001828 and DOGE at $0.1649, reflecting slight decreases over the past 24 hours.  Crypto analyst Clifton Fx has also weighed in on SHIB’s future prospects, identifying a “bullish flag formation” on the three-day price chart. According to the analyst, SHIB’s price could soar by as much as 90% if it reclaims the $0.00001884 level. Another development in Shiba Inu. Transactions on Shibarium reached nearly 4 million on October 31, marking a 130% rise from the previous day.