Big Binance Announcement for Shiba Inu (SHIB) and Dogecoin (DOGE) Traders: Details

TL;DR

Binance introduced a special initiative, where eligible meme coin traders join teams to complete missions and collect points for rewards. The company has supported numerous meme coins in recent months, adding certain trading pairs to its platform. ‘Battle of the Meme’

The world’s largest cryptocurrency exchange, Binance, presented an interesting initiative called “Battle of the meme: Doge vs Shiba Inu”. According to the terms, users can join the Dogecoin team or the rival to complete daily missions and accumulate points.

“After the activity is concluded, we will calculate which team has accumulated the most points collectively,” the company said.

The first 50,000 entrants from the winning team will each receive a reward of up to $50. The first 20,000 entrants from the losing team will also bag similar rewards.

The top 25 users on the winning side (those with the highest trading volume during the promotion period) will receive an additional $200 reward.

“Only users who confirm their participation in the activity will be eligible for the rewards. To be considered eligible participants, users must meet all requirements during the Promotion Period,” the conditions read.

Participants must accumulate at least 3,000 activity points in total to be eligible for the draw. The winning team will be crowned on July 29.

Binance will deliver the rewards in the form of token vouchers within 30 business days after the end of the initiative. Eligible users should claim the vouchers within 15 days of distribution.

Binance and Meme Coins

This isn’t the first promotion the exchange has come up with for meme coin traders. In April, it promised a total reward of 10,000 FDUSD (in token vouchers) to all users who have not traded on Binance Spot in the last 90 days.

To join the offer, eligible users had to accumulate a total trading volume of at least $100 in certain pairs such as SHIB/EUR, SHIB/USDT, DOGE/BTC, WIF/FDUSD, PEPE/FDUSD , PEPE/TRY, FLOKI/TRY , and many more.

In the following months, the company showed additional support for some popular meme coins. In June, it added WIF/EUR to Binance Spot and enabled trading bot services for the pair.

Earlier this week, the firm went even further, saying it will introduce WIF/USD perpetual contracts on July 23rd. These financial products allow users to speculate on the price movements of the underlying cryptocurrencies without owning them. They offer high leverage, have no expiration date, and require traders to maintain a specific margin to keep positions open.

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