- Binance recently announced a two-week memecoin contest.
- The contest is set to run from July 12-26
- Crypto analyst Javon Marks forecasts Shiba Inu will reclaim its ATH.
Prominent crypto analyst Javon Marks believes Shiba Inu (SHIB) will reclaim its all-time high amid Binance’s launch of a memecoin duel between SHIB and its major rival, Dogecoin (DOGE).
Binance recently announced a two-week competition dubbed “Battle of the Meme Dogs,” rewarding potential winners with $100,000 in token vouchers. During the competition, contestants from the SHIB and DOGE teams earn points for completing daily or permanent tasks. The contest is slated for July 12 to July 26, 2024, and participation is straightforward.
Aspiring participants must log in to their Binance accounts and confirm participation by joining either Team Shiba or Team Doge on the activity page. Upon confirmation by Binance, users are redirected to the promo page to begin tasks.
The points are structured as follows:
- 30 points for daily login
- 20 points for sharing the contest on social media
- 200 points for successful referrals who complete KYC verification
- 250 points for a single DOGE or SHIB deposit of at least $100.
In addition, participants who place spot or convert orders in SHIB or DOGE of at least $100 will earn 350 points. Meanwhile, users earn 500 activity points for trading a minimum of $1,500 in SHIB or DOGE in Binance futures.
After the contest, Binance will reward the team with the most points. A minimum of 3,000 individual points is required to participate in the $100,000 prize pool. $50 will be shared among the first $50,000 participants of the winning team. Similarly, the first 20,000 participants from the losing team will be rewarded with $50.
Meanwhile, analyst Javon Marks predicts SHIB will reclaim its ATH, citing a favorable market outlook and technical indicators. According to his report, the Shiba Inu price trend signals the potential for another rally, which could propel it to significant highs.
“$SHIB (#Shiba)’s 3D prices, despite its recent action, are continuing to hold broken out of pattern that resembles fairly closely, another pattern that sparked a massive run to new All Time Highs,”
Shiba Inu trades at $0.00001963 during press time, having increased by 1.66% in the early hours of the day.
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