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Shiba Inu recently announced their collaborative partnership — involving Shiboshis NFT collection — with luxury brand Bugatti Group on Twitter. Now a latest post reveals that there is a mint party hosted by their collaborators where the genesis NFT holders will receive certain benefits associated with the tokens. The seven part thread offers a gist of what the users can expect during this event.
A Significant Collaboration
According to the announcement, there will be 299 limited edition releases alongside 1 exclusive edition release. Moreover, 95% of the holders will receive Cross Body limited edition luggage bags while the rest 5% will get a Carry-On item from the Bugatti Group. The thread also revealed there will be a minting portal during the event and Redemption Portal a week after mint completion.
Shiboshis are the non-fungible tokens associated with the Shiba Inu ecosystem that the holders will be able to use in their upcoming metaverse. Virtual spaces are gaining pace as other developers like Yuga Labs have already revealed the “First Trip” of the Bored Ape universe, Otherside.
Shiba Inu Price Analysis
The crypto asset has already lost almost 70% value since April 2022. The chart shows a steep decline over a month ahead of a consolidation phase. In August 2022, the meme coin saw a 33% surge in a day which slowly went cold over the next few days.
Shiba Inu was trading at a market price of $0.00000896 at the publication time, an over 3% decline in the past 24 hours. The asset maintains a support level at $0.00000781 and a resistance at $0.00000976. RSI indicates that the investors are exiting their positions which may lead to a plunge in the next few days.
However, the burn rate has increased by over 25% in a day which points towards an upward momentum if the process maintains the pace. Currently, the cryptocurrency has a market cap at $4.9 Billion with 549 Trillion SHIB available in circulating supply.
Disclaimer
All the views expressed in the article hold informational purposes and must not be taken as investment advice. Any loss borne by the reader is solely their responsibility. The writer and the organization do not play any role in case of any financial blow.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
