Shiba Inu Soars 5% After Teasing Merchandise Tie-Up With Bugatti Group

Shiba Inu SHIB/USD soared in the early hours of Monday after hinting at a possible partnership with the Bugatti Group.

What Happened: Both Bugatti and SHIB have remained silent about the specifics of the upcoming collection, yet a promotional video posted gives the idea that the luggage, handbags, and accessories to be sold will be Shiba Inu-themed. 

 

 @Shibtoken Shiboshis x @bugattigrp

Stay tuned for an upcoming event announcement in the next few days! pic.twitter.com/VzvwUI2rOU

— Shib (@Shibtoken) January 8, 2023

At the time of writing, SHIB was up 5.51% in the last 24 hours, trading at $0.00000888.

The Bugatti Group specializes in the manufacture, marketing and selling of baggage, purses, attaché cases and accessories since the 1940s.

See More: Best Crypto Day Trading Strategies

SHIB token was among the top 10 tokens purchased by the top 100 Ethereum ETH/USD whales in the last 24 hours on Saturday. 

According to Whalestats data, the top 100 ETH whales were cumulatively holding a staggering $44.2 million worth of Shiba Inu tokens. This makes up a whopping 2% of their total crypto assets.

Price Action: ETH was trading at $1,309, up 3.66% in the last 24 hours, according to Benzinga Pro Data.

Read Next: Bitcoin Pushes Past $17K, Ethereum, Dogecoin Extend Gains: Analyst Predicts Crypto Rally This Week But Don't Get Carried Away