2023-10-3 15:00 |
James Butterfill – the Head of Research at CoinShares expects Bitcoin to rally if the U.S. government does eventually shut down next month.
How may a government shutdown help Bitcoin?Late on Friday, President Biden signed a funding bill that liquidated the government for another 45 days. So, the U.S. Congress now has until November 17th to reach an agreement on funding.
Simply put, the United States has not averted the shutdown per se. For now, it has merely bought more time for House and the Senate to continue discussions and hopefully reach a middle ground over the next few weeks.
If they fail, however, the government could still be pushed into a shutdown – which may deliver a bump to Bitcoin as investors turn to the “digital gold” for refuge in times of uncertainty and instability, as per Butterfill.
This scenario bears resemblance to the debt ceiling stalemate experienced earlier this year, which ended up bolstering Bitcoin prices.
And strength in Bitcoin – considering that it tends to lead the pack – will likely trickle down to other crypto tokens as well. So, by transitive property of equality, a government shutdown can be expected to boost interest in the likes of Shiba Memu.
Shiba Memu combines blockchain and AIShiba Memu has been inviting strong demand in recent months as it offers exposure to two of the fastest growing markets: blockchain and artificial intelligence.
The recently launched platform puts itself equivalent to as many as 100 marketing agencies as it taps on artificial intelligence to automate self-promotion.
All in all, Shiba Memu is a project that aims at maximising marketing productivity and efficiency. But that still is only the second-most interesting thing about it. First being its native meme coin or the “SHMU” which powers everything that it stands for.
SHMU aspires to capitalise on the meme coin market that evolved from thin air into a $20 billion market over the past three years tops.
The native token of Shiba Memu is currently in pre-sale – the details of which you can find on its website here.
Shiba Memu (SHMU) is yet to find its way to crypto exchangesShiba Memu has taken a few weeks only to raise more than $3.4 million selling its meme coin. What that signals is strong demand that tends to translate to price appreciation in financial instruments.
Its AI dashboard is slated to debut in the coming months as well that many believe will help the demand picture even further.
SHMU is a unique and perhaps a more lucrative investment than its peers as it can potentially benefit from a continued euphoria around artificial intelligence – a market that Statista forecasts will grow about ten-fold by 2030.
Shiba Memu will find a home at cryptocurrency exchanges once its pre-sale is over which may result in a further boost to demand and, eventually, to its price.
You can find more about how to invest in Shiba Memu (SHMU) at its website here.
Another crypto tailwind that may help SHMUNote that Bitcoin rallied this year when a couple of U.S. financial institutions collapsed.
And is it established beyond doubt that the banking space does not still have significant downside risks? Not exactly – said Martin Gruenberg last week – the Chair of U.S. FDIC. Stickier inflation and higher for longer narrative (interest rates) does still warrant caution as far as the banks are concerned, he added.
Those downside risks, if they indeed realise, may unlock the next leg up in the world’s largest cryptocurrency. And again – Bitcoin is like an extrovert on steroids. It doesn’t engage in a rally alone. It tries to pull the entire market with it. That may end up being another catalyst for Shiba Memu as it’s basically a cryptocurrency.
It is worth mentioning here that an SHMU is more exciting than its peers also because it gains value every day. For example, it’s currently going for $0.0311 with the next price bump coming in 20 hours from now.
Want to know more about Shiba Memu (SHMU)? Click here to visit the project website.
The post What may a government shutdown mean for Shiba Memu? appeared first on Invezz.
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