New York, New York - Swifties are in a frenzy amid rumors that Taylor Swift's new album, The Life of a Showgirl, will throw some shade at her fellow pop star Charli XCX.

Taylor's 12th studio album will drop at midnight ET on Friday, and needless to say, anticipation is running high.

Per Page Six, alleged leaked lyrics from The Life of a Showgirl seemingly prove that the 35-year-old took a jab at Charli in the song Actually Romantic.

The diss track theory actually predates the alleged leak – its title initially reminded many fans of the 32-year-old's song Everything is romantic from her hit album, Brat.

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According to the leak, Taylor sings, "I heard you call me 'Boring Barbie' when the coke's got you brave."

This quickly sparked talk about Charli, as she not-so-subtly alluded to drug use throughout the songs on Brat.

But the track also includes what seem to be references to the Boom Clap artist's husband, George Daniels, who is a member of The 1975 – the band fronted by Taylor's ex Matty Healy.

Taylor and Matty had a fleeting fling in May 2023, and the abrupt end of the romance has long been believed to be the inspiration for much of the Karma singer's 2024 album The Tortured Poets Department.

"High-fived my ex then you said you're glad he ghosted me," Taylor reportedly sings in Actually Romantic.

The alleged beef dates all the way back to 2018 when Charli opened for Taylor on her Reputation Stadium Tour.

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The two seemed friendly at the time, but Charli later described the experience as "getting up onstage and waving to 5-year-olds," which ruffled some feathers among fans.

Charli apologized to the Swifties for the quote, and last year, talk of a falling out re-emerged when Brat first dropped.

The album featured a song called Sympathy is a knife, which dives into Charli's sense of insecurity around a more successful female musician – widely believed to be Taylor.

The track also seemed to allude to the Cruel Summer artist's romance with Matty, as Charli sang, "Don't want to see her backstage at my boyfriend's show / Fingers crossed behind my back hope they break up quick."

In subsequent comments, Charli made it clear the song was not meant as a diss, and Taylor even praised Brat in 2024, sharing in an interview, "[Charli's] writing is surreal and inventive, always."

Is there still some bad blood under the surface after all? Fans will have to wait and hear for themselves when The Life of a Showgirl drops on Friday!