The developers of Shiba Inu, the second-largest memecoin in terms of market capitalization, have revealed a thrilling giveaway event that will happen in December. The SHIB community is excited about the offer, which will usher in the Christmas season, and its loyal members are looking forward to their reward.
Shiba Inu Incredible Christmas Giveaway
Lucie, the marketing head for Shiba Inu, shared the good news earlier today on X, formerly Twitter. The team has established a budget for a huge Christmas giveaway, she said.
Known as the “Amazing Christmas BONE December,” the team pledges to use Bone Shibaswap (BONE) or other Shiba Inu ecosystem tokens to reward each participant during the promotional event.
What to Do Before Start
In her tweet, Lucie provided the community with some preparatory advice but did not specify the start date. She encouraged the community to follow the accounts of specific Shiba Inu developers, such as Kaal Dhairya and the main developer Shytoshi Kusama.
Additionally, she requested that the community follow the TREAT token and Shibarium Updates, two accounts associated with the Shiba Inu ecosystem. In the end, she urged the public to remain vigilant and monitor any further updates, as they would be “HUGE.”
Community Reacts to Announcement
In the meanwhile, the community responded to the announcement with a great deal of optimism. Members enthusiastically gathered to show their readiness for the kickoff. Some members, however, expressed doubt about the token selection, questioning why BONE was chosen rather than Shiba Inu.
Although the Shiba Inu team did not provide a clear answer to this query, it is believed that BONE was purposefully chosen as a promotional tool to boost the coin’s acceptance.
BONE and SHIB Price Movement Amid Update
The announcement, in the meantime, has improved the course of BONE and the underlying Shiba Inu coin.
BONE has seen a noteworthy increase during the past day, rising by 1.71% to trade at $0.5426. With a live market capitalization of $125 million, its one-day trading volume fell by 26% to $7.34 million.
Over the same period, Shiba Inu, the ecosystem’s leading token, experienced a more remarkable 3.49% increase, trading at $0.00002605. In a similar vein, SHIB’s trading volume fell 28% over the past day to $753 million, with a $15.35 billion live market value.
Conclusion
The Shiba Inu team’s announcement of the “Amazing Christmas BONE December” giveaway has generated excitement within the community, emphasizing its strategy to engage loyal supporters.
By using BONE and other ecosystem tokens for rewards, the event seeks to promote the ecosystem while increasing token adoption. However, the decision to prioritize BONE over SHIB has sparked minor criticism, with some questioning its implications for the larger ecosystem.
The price upticks for both BONE and SHIB following the news highlight market optimism, though declining trading volumes may temper enthusiasm. Overall, this initiative showcases Shiba Inu’s commitment to community engagement and ecosystem growth.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.