Shib announced that it will distribute 10 million PHIL airdrops (currently valued at approximately $429,100) to SHIB holders. Those who held SHIB in non-custodial wallets (MetaMask, Trust Wallet, Ledge) before August 28 are eligible for the airdrop.
Shib stated that PHIL was initiated by Ethereum developer ZZ-410 with the aim of uniting the top 50 Meme coins to form an alliance based on dog-themed Meme coins for friendship and charity.