In a strategic move to expand its presence in the French cryptocurrency market, Cayman Islands-based cryptocurrency exchange BitMart has unveiled a substantial Shiba Inu token giveaway.
The promotion commenced on November 15, 2024, at 00:00 UTC and features a reward pool of 121,914,968 SHIB tokens, equivalent to approximately $3,000 USDT.
The promotional campaign, scheduled to conclude on November 17, 2024, at 23:59 UTC, specifically targets the French cryptocurrency community. BitMart has established a structured framework that will distribute the SHIB tokens among 300 qualified participants, with each winner receiving approximately 406,383 SHIB tokens.
Campaign Requirements and Distribution
To participate, users must complete several requirements. BitMart requires users to establish a new account through their French platform using a designated registration link.
Following account creation, participants must deposit a minimum of 20 USDT and execute at least one spot trade with any cryptocurrency available on the platform.
The exchange has also incorporated social media engagement requirements into the campaign structure. Participants must follow BitMart’s official account on X and share the giveaway announcement. The final step involves submitting their BitMart customer identification through an official Google form provided in the announcement.
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Shiba Inu’s Current Market Position
This initiative comes during a period of notable price movements for Shiba Inu. The coin has experienced a 7.87% increase over the past 24 hours to its current price of $0.00002546. At this level, SHIB is up 36.70% from last week.
This move coincides with a massive rally in the broader market, with Bitcoin recently hitting a new all-time high of $93,434. Shiba Inu’s lead developer recently stated that the time has come to showcase SHIB’s power, and the meme coin’s recent surge is a good example.
BitMart’s giveaway campaign follows similar promotional strategies introduced by other major cryptocurrency exchanges throughout 2023 and 2024. These initiatives have consistently targeted the Shiba Inu community, recognizing its significant presence in the cryptocurrency ecosystem.
For instance, Bybit previously conducted a trading competition in May 2023, offering participants the opportunity to win from a $20,000 USDT prize pool. Crypto.com also launched a similar giveaway in late 2023, giving out $15,000 to traders of multiple meme coins including Shiba Inu.
While the primary objective of BitMart’s campaign centers on increasing trading activity and user engagement on the platform, particularly in the French market, the initiative has broader implications for Shiba Inu (SHIB)
By facilitating greater access to SHIB through this promotional activity, BitMart contributes to expanding Shiba Inu’s user base and market visibility, and this growing adoption could aid Shiba Inu’s rise.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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