SBI VC Trade Unveils Doggie Contest and Doggie Race Campaigns to Celebrate Japan's Dog Day

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

Cryptocurrency exchange SBI VC Trade has announced two promotional events to celebrate Japan's Dog Day on November 1. The campaigns will spotlight the Shiba Inu-inspired tokens SHIB and DOGE.

The exchange is offering two campaigns, the “Doggie Contest” and the “Doggie Race”, to engage SBI VC Trade users in the celebration. In the Doggie Contest, users will be tasked with creating 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 will begin on November 1 at 10:00 AM and continue until November 8 at 11:59 PM. Following the conclusion of the contest, SBI VC Trade will randomly select 11 participants to receive a 10,000 Yen Amazon gift voucher each. The winners will be notified by the end of the year.

The Doggie Race is designed for active traders and will run from November 1 at 7:00 AM to December 1 at 6:59 AM. To participate, users must trade a minimum of 10,000 Yen in SHIB, which will automatically enter them into the lottery. SBI VC Trade will select 110 winners to receive 1,000 Yen in SHIB each, with the rewards to be distributed before January 31, 2025. These initiatives are part of SBI VC Trade’s strategy to enhance SHIB’s visibility on the platform and foster stronger connections within the crypto community.

Expanding Use Cases for SHIB and DOGE Tokens

SBI VC Trade has also highlighted the evolving use cases for SHIB and DOGE during these events. While both tokens were initially launched as memecoins, a type of joke coin, they have since found applications in real-world transactions. For instance, DOGE is accepted as a payment method for various services. Meanwhile, SHIB is increasingly being adopted, particularly in the NFT and dApps sectors. This support from SBI VC Trade demonstrates that these tokens are no longer merely symbols of internet culture but have tangible implications in the broader cryptocurrency landscape.

In the past, the SBI VC trading platform has undertaken several marketing initiatives to promote SHIB, including a birthday celebration for Kabosu-Chan, the Shiba Inu dog associated with the SHIB token. Additionally, the exchange offers a lending service that allows users to earn passive income by lending out their SHIB, with an annual percentage yield of 1.3%, catering to long-term HODLers of SHIB.

Despite these recent campaigns, SHIB and DOGE prices have shown limited immediate effect, with SHIB trading at $0.00001828 and DOGE at $0.1649, reflecting slight decreases over the past 24 hours.

Meanwhile, crypto analyst Clifton Fx has commented on SHIB’s future prospects, identifying a “bullish flag formation” on the three-day price chart. According to the analyst, SHIB’s price could rally by as much as 90% if it manages to reclaim the $0.00001884 level. In another development related to Shiba Inu, transactions on Shibarium reached nearly 4 million on October 31, indicating a 130% increase from the previous day.