Rakuten Wallet's SHIB Giveaway Sparks Spotlight on Meme Coin
Key Summary
Japanese crypto exchange Rakuten Wallet is hosting a SHIB coin giveaway, allowing holders to receive physical SHIB-themed coins at its investment seminar in Japan this November. The event requires participants to show their SHIB holdings in the Rakuten Wallet application, with no exceptions. This move comes as SHIB experiences a decline in value, with losses worsening early Thursday, and significant selling pressure in the broader crypto market.
Event Details
Japanese crypto exchange Rakuten Wallet is hosting a SHIB coin giveaway, allowing holders to receive physical SHIB-themed coins at its investment seminar in Japan this November. The event requires participants to show their SHIB holdings in the Rakuten Wallet application, with no exceptions.
Background
Rakuten Wallet continues to demonstrate support for Shiba Inu after adding the meme coin to its lineup in April. In July 2026, the exchange announced the creation of the first physical Shiba Inu (SHIB) coin of its kind, using sandblasting technology.
Market Impact
SHIB experienced a decline in value, with losses worsening early Thursday, and significant selling pressure in the broader crypto market. The Federal Reserve's inflation data revived concerns that interest rates may be raised this month, driving losses in various cryptocurrencies, including SHIB.
Conclusion
The giveaway is part of Rakuten Wallet's efforts to engage with its users and promote the SHIB coin. However, the decline in value of SHIB and other cryptocurrencies highlights the risks associated with investing in the crypto market.