Los Angeles, California - Shortly after making her long-awaited return to the red carpet, Zendaya has reignited speculation that she's engaged to her boyfriend Tom Holland!

After a flood of rumors suggesting the pair was heading down the aisle at the end of last year, fans are convinced once again that wedding bells are ringing!

The 26-year-old Euphoria star kept her followers updated with all the details behind her stunning fashion at the NAACP Image Awards and the Screen Actors Guild Awards over the weekend.

But one particular snap from her Instagram story caught fans' attention. In the photo, Zendaya wishes her followers a good night with a close-up mirror selfie.

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Of course, it was the massive diamond ring noticeable in the shot that sent fans into a frenzy, with many immediately assuming it was an engagement ring.

Was the yellow diamond stunner a gift from her boo?

The eye-catching yellow diamond, as it turns out, wasn't a gift from her 26-year-old boo, but instead a well-earned gift to herself!

In 2021, Zendaya spoke to British Vogue about purchasing the Bulgari ring as a "treat-myself" buy.

"I do get a little employee discount," she said. "It feels like it's gonna be an heirloom, like one day I can give it to my grandchildren."

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Neither half of the Marvel couple has commented on the lingering engagement rumors, but Zendaya's mom did appear to slam the speculation as "clickbait" when the stories were gaining traction last year.

Whether or not the pair is engaged, they're certainly as crazy about each other as ever.

Holland didn't accompany his girlfriend on the red carpet over the weekend, but he kept a close eye on her on social media, as many eagle-eyed fans noticed. The Uncharted actor was sure to like all of Zendaya's gorgeous Instagram posts, despite his reservations about social media's negative impact on his mental health.

Holland also left several heart-eye emojis in the comments of her first NAACP Image Awards photo and was even caught liking photos of her appearances shared by fan accounts.