Now, Shiba Inu has announced some interesting partnerships. A few days ago, the meme coin’s official Twitter page teased a new partnership with luxury car manufacturer Bugatti while tagging a post. However, it is not just speculation as Shiba Inu has confirmed the partnership.
Shiba Inu Announces Bugatti Partnership
Shiba Inu announced on Twitter that it has partnered with the Bugatti Group, maker of the popular Bugatti car. The partnership is for an upcoming NFT collection of meme coins that will be Bugatti Group’s special event for the Shiba Inu. The event included a Twitter Space and a mint party for Shiboshi mint.
Early supporters and owners of the genesis Shiba Inu NFT collection will be able to create this NFT which will come with physical assets for owners as well. Physical items range from Special Edition Bugatti wallets to crossbody bags, travel bags, and more.
In the announcement, there will only be 299 items in the limited release in addition to the exclusive 1st edition release. The mint price has been set at 0.14 ETH and the mint portal will open during the Spaces Twitter event with Bugatti.
@Shibtoken Shiboshi x @bugattigrp Special Edition Release 🧵
We are happy to announce an upcoming special event, where the Bugatti Group will host a mint party and a special space for us. #Shiboshis!
1/7 🧵 pic.twitter.com/FY0kn32wTr
– Shib (@Shibtoken) January 10, 2023
Minted users will be able to claim their items a week after minting with 15 community members selected to receive a Bugatti carry-on customized with a Shiboshi design. They will also get 55% off all travel accessories designed through the Shiba Inu and Bugatti Group collaboration.
SHIB Price Responds Positively
Hot on the heels of Bugatti’s announcement, Shiba Inu trading volume has seen a recovery. Over the last 24 hours, it has jumped over $ 350 million and counting and has also seen the activity of Ethereum whales as SHIB is now one of the top 10 tokens by trading volume for above 2,000 ETH whales.
SHIB price at $0.00000878 | Source: SHIBUSD on TradingView.com
Other factors have also contributed to SHIB’s popularity so far such as the faster burning rate that has been discovered this year. Shibburn reported that over 17 million tokens were burned in the last day with one wallet burning 10 million SHIB tokens. This makes the burn rate 25.21% higher than the previous day.
As for the price of SHIB, the meme coin has seen some recovery after the announcement, but it quickly corrected again. The digital asset is currently trading at $0.0000089 and is down 5.4% in the last day.
However, Shiba Inu remains a strong competitor in the cryptocurrency market. It is currently the 16th largest cryptocurrency with a market cap of $4.9 billion.