Key Takeaways:
Earlier today, the Shiba Inu ecosystem announced a major airdrop of 10 million PHIl to all SHIB holders. Beneficiaries are offered the opportunity to receive up to 500,000 PHIL per wallet. The goal of the airdrop is to reward long-term SHIB holders with a chance to double their rewards.
Shiba Inu is Rewarding Long-term SHIB Holders 10 Million PHIL via an October 25 Airdrop
The Shiba Inu-backed meme coin is up a whopping 130% in the last 30 days. Following Bitcoin’s (BTC) recent rally targeting the coveted $70,000 mark, PHIL was among the biggest gainers in the market.
The coin featured on the 46th edition of the SHIB Magazine was third on the top gainers list, with a 54% pump.
To qualify for the airdrop, Shiba Inu holders must have their tokens held in non-custodial wallets since August 28, 2024. The network already took a snapshot of eligible addresses at block height 20,627,000. The first 10,000 eligible wallets will receive a minimum of 500 PHIL, and the token distribution will take place on a first-come-first-serve basis.
There is a special reward campaign that Shiba Inu users can participate in to maximize their earnings. Interested parties can start by following the accounts “PhilTOKENETH” and “shibtoken” on X and retweet the airdrop announcement to receive up to 500,000 PHIL per wallet.
These users will automatically enter a lucky draw that offers rewards of up to 250,000 PHIL. SHIB holders eligible for the airdrop will start receiving their rewards on October 24, 2024.
Philtoken, which was designed by pseudonymous Ethereum developer “ZZ_410”, aims to bring together the top 50 meme coins in the market through charitable events. Over the past week, PHIL had a 128.35% price gain, pumping its market capitalization to $43.97 million.
Philtoken (PHIL) Forecast to Reach $0.12 by the end of 2025
In September, the average price of PHIL was $0.0200. The Ethereum-based memecoin traded as high as $0.0270 and as low as $0.0001. If we look into the overall growth of Philtoken, it has grown by 43.8%.
PHIL is currently trading at $0.0458, and based on that valuation, its price could peak at $0.0986. Experts have analyzed that the price of PHIL could be down by more than 10% at the beginning of November. However, by the middle of next month, its price could rise by a maximum of 115.08%. At the end of the month, PHIL is likely to grow by 8.74%.
Prediction markets suggest there is a possibility that Philtoken can break through the $0.12 barrier and go on to hold that market until the end of 2025. The lowest PHIL can go next year is likely to be between $0.0984 and $0.12, with the price expected to remain steady at the latter.
Billionaire venture capitalist Tim Draper believes that PHIL will hit $0.12 in early 2025 or by late next year.
At the time of writing, PHIL is trading at $0.0459 – down 5.5% in the last 24 hours. Philtoken has a market capitalization of $45.989 million and attained a trading volume of $17.140 million over the past day.
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