Shiba Inu partners with industry heavyweight Bugatti – Will it drive SHIB to $0.15?

  • Shiba Inu’s developer team teased the partnership with Bugatti Group earlier on Twitter.
  • The Buggati Group is a renowned manufacturer of bags, suitcases, business bags, and sanitary products. Shiba Inu shall reveal more details ahead in the future.

The world’s second-largest meme cryptocurrency Shiba Inu (SHIB) continues to be in the news for a while and has witnessed quite a good amount of whale activity in recent times. In addition to the interest in the SHIB cryptocurrency recently, Shiba Inu is making some important partnerships as well.

As per the recent development, Shiba Inu has reportedly joined hands with the Montreal-based premium brand BuBugatti Group. The Buggati Group is a renowned manufacturer of bags, suitcases, business bags, and sanitary products. They have been in the business since the 1940s and are famous for offering “exceptional designs and superior materials.”

The team behind Shiba Inu has recently teased this announcement through its official Twitter handle.

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Furthermore, the Bugatti Group has also recently hopped on to the recent craze surrounding the launch of its own collection of non-fungible tokens (NFTs). As part of the announcement, they introduced the Bugatti Group Genesis NFT Collection. The owners of this NFT collection receive exclusive benefits such as exclusive social media channels along with discounts for future drops and purchases.

Currently, the details of this partnership are scant. However, Shiba Inu released a short video clip of a handbag featuring a customized Shiba Inu on it. The purpose of the partnership is still not clear for now. This is yet another partnership by Shiba Inu and a quick one considering its two years of existence in the market.

Talks Around Shibarium

Currently, the crypto market is quite abuzz with the launch of Shiba Inu’s Layer-2 scalability solution Shibarium. This launch has also been teased for the most part of the last year 2022.

In the latest development, Shiba Inu developers confirmed that all transactions on the Shibarium network will burn $SHIB and shall use Shibarium’s native crypto $BONE for the gas payments. In an official update over the last weekend on January 7, the official Twitter handle of Shibarium Network noted:

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While on our last post we wanted to remind everyone that BONE serves as the required gas token for operability within Shibarium, we also would now like to formally announce that each #Shibarium transaction will burn  SHIB. We are focused in delivery at this time, please stay tuned for additional information and as we approach our beta launch. 

This comes as there was quite a confusion over the burning of the $SHIB coins and the use of $BONE as a gas fee.

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About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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