Bybit Announces $20K Giveaway Campaign for Shiba Inu

Bybit users can earn a share of the $20K USDT prize pool when they trade Shiba Inu.

Leading cryptocurrency exchange, Bybit has announced a giveaway of $20K USDT for users who trade Shiba Inu tokens. In a tweet today, Bybit said users who trade Shiba Inu tokens on its platform would earn a share of the $20,000 worth of USDT prize pool.

The giveaway campaign, which was flagged off earlier today, will end on May 18, 2023, at 11:30 AM (UTC).

? The Memes Carnival is here!

Simply trade $DOGE, $PEPE, $SHIB, $LADYS, $FLOKI, and more #memecoins to earn your share of the 20,000 $USDT Prize Pool!

?️ From now till May 18, 2023, 11:30AM UTC

Join the event: https://t.co/eesdGaZaWr#TheCryptoArk #BybitSpot pic.twitter.com/LSol0JG0UU

— Bybit (@Bybit_Official) May 11, 2023

According to the official announcement, users will be ranked based on their trading volume on the SHIB/USDT pair throughout the giveaway event.

Aside from Shiba Inu, the Bybit campaign also extended support to other meme-based cryptocurrencies, including Dogecoin (DOGE), Pepe (PEPE), BabyDoge (BABYDOGE), Floki Inu (FLOKI), etc.

Per the announcement, any user who records the highest trading volume for any supported meme coin will receive $1.2K from the $20K USDT prize pool. Similarly, the first runner-up will earn $800 worth of USDT.

The second runner-up will receive a share of $500 USDT. Additionally, Bybit will distribute $3.5 worth of USDT to users who rank 4th to 5,003rd in the giveaway event.

The development comes less than two weeks after popular Indian crypto exchange SunCrypto announced a massive giveaway of 150 million Shiba Inu tokens.

Latest Meme Coin Frenzy

The development comes following the surging interest in meme-based cryptocurrencies. Meme coins have continued to receive a growing interest among cryptocurrency investors.

Tokens like Dogecoin, Shiba Inu, Pepe, and Floki Inu are leading the meme coin frenzy, according to CoinMarketCap data. Earlier today, Snek, a newly launched Cardano-based meme coin, got the attention of Cardano founder Charles Hoskinson following the widespread interest in the token.

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