For some time now, Shiba Inu has been revealing some interesting partnerships. A few days ago, the official Twitter page of the meme coin teased a brand new partnership with luxury automobile manufacturer Bugatti when it tagged it in a post. Nevertheless, it isn’t any longer just speculation as Shiba Inu has confirmed the partnership.
Shiba Inu Unveils Bugatti Partnership
Shiba Inu revealed on Twitter that it had partnered with the Bugatti Group, the makers of the favored Bugatti automobiles. The partnership was for the upcoming NFT collection for the meme coin which is able to see the Bugatti Group host special events for Shiba Inu. The events include a Twitter Space and a mint party for the Shiboshi mint.
Early supporters and holders of the Shiba Inu NFT genesis collection will have the ability to mint these NFTs which is able to include physical assets for holders as well. The physical items range from Special Edition Bugatti wallets to crossbody bags, travel carryons, etc.
Within the announcement, it revealed that there’ll only be 299 items within the limited release along with a single exclusive 1st edition release. The mint price is already set at 0.14 ETH and the mint portal will open during its Twitter Spaces event with Bugatti.
@Shibtoken Shiboshis x @bugattigrp Special Edition Release 🧵
We’re excited to announce our upcoming special event, wherein Bugatti Group will host a mint party and space dedicated to our #Shiboshis!
1/7 🧵 pic.twitter.com/FY0kn32wTr
— Shib (@Shibtoken) January 10, 2023
Users who mint will have the ability to say their items per week after mint with 15 community members chosen to receive a Bugatti carry-on customized with their Shiboshi design. They can even qualify for 55% off of all travel accessories designed through the Shiba Inu and Bugatti Group collaboration.
SHIB Price Responds Positively
Hot on the heels of the Bugatti announcement, the trading volume of Shiba Inu has already seen a recovery. Over the past 24 hours, it has jumped over $350 million and counting and has also seen activity from Ethereum whales as SHIB is now one in every of the highest 10 tokens by trading volume for the highest 2,000 ETH whales.
SHIB price at $0.00000878 | Source: SHIBUSD on TradingView.com
Other aspects have also driven the recognition of SHIB thus far reminiscent of the accelerated burn rate that has been witnessed this 12 months. Shibburn reported that over 17 million tokens were burned within the last day with a single wallet burning 10 million SHIB tokens. This puts the burn rate 25.21% higher than the day past.
As for the value of SHIB, the meme coin had seen some recovery following the announcement, nonetheless, it quickly corrected back down. The digital asset is now trading at a price of $0.0000089 and it’s down 5.4% within the last day.
Nevertheless, Shiba Inu stays a robust contender within the cryptocurrency market. It’s currently the sixteenth largest cryptocurrency with a market cap of $4.9 billion.