As Shiba gains 3% within 24 hours, predictions for its price are being made. Many speculate whether the potential US debt ceiling deal will drive SHIB to reach $1.
Let's explore the factors influencing the price movement of Shiba Inu and the possible implications of the debt ceiling deal on its future value.
The US Debt Ceiling Deal refers to an agreement reached by the United States Congress to raise or suspend the debt limit, which is the maximum amount of money the government can borrow to fund its operations.
Congress sets the debt ceiling, and when the government reaches that limit, it cannot borrow more money unless the ceiling is raised or suspended.
The US debt ceiling is crucial as it determines the government's ability to meet its financial obligations, including paying bills, servicing debt, and funding essential programs and services.
Failure to raise or suspend the debt limit can have severe consequences, such as a potential government shutdown, default on debt payments, and disruption to financial markets.
The US House of Representatives has passed a bill to raise the debt ceiling, averting a potential default on the country's financial obligations.
The bill, which suspends the debt limit until December 2022, received bipartisan support and now moves to the Senate for approval.
The move comes as the US Treasury warned of the dire consequences of failing to raise the debt ceiling, including disruptions to Social Security payments and a downturn in the global economy.
The decision to raise the debt ceiling will provide the government with the necessary funds to meet its financial obligations and maintain stability in the US economy.
The current price of Shiba Inu stands at $0.000009, accompanied by a significantRead more on cryptonews.com