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Shiba Inu (SHIB) Receives Thanksgiving Day Chance Today, Nov. 28, is Thanksgiving Day in the U.S., which means the country’s financial markets are closed. For the cryptocurrency market, this means that there is no activity on the part of traditional market participants in the area of Bitcoin ETFs and Ethereum ETFs in particular. In all likelihood, this means that the crypto market will not be under pressure from the major players that could have exerted pressure through such instruments, which means that cryptocurrencies such as Shiba Inu (SHIB) will be traded in a kind of vacuum today. As you can see on the price chart of the popular meme cryptocurrency, today, during the holiday, the price of the token has thus far experienced a kind of multidirectional movement, finding support at an important level around $0.000025 per SHIB. At the same time, we can see that this support was found after a spill followed by a buyout, which formed a long hairpin on the hourly price chart of the token. Thus, from the local bottom at $0.0000234, the price of SHIB rose by 12.5% and then corrected by 3%, coming to the place where it is now. In this case, we get a textbook correction, which is considered healthy and important for a further upward move. Given the bullish attitude of crypto market participants and the enthusiasm of the SHIB community, we can assume that in the absence of external pressure, this Thanksgiving will give the popular meme cryptocurrency a chance to continue its rally. #Shibainu #SHIB #MemecoinSeason2024 #AltcoinSeason #cryptonewstoday

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Shiba Inu (SHIB) Receives Thanksgiving Day Chance

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Elon Musk’s D.O.G.E. Targets The IRS: Taxman In The Crosshairs The incoming heads of the newly established Department of Government Efficiency (D.O.G.E.) have an ambitious plan of slashing federal agencies’ spending by $2 trillion, locking in its crosshairs several agencies for sweeping budget cuts. One of the D.O.G.E. leaders, Tesla CEO Elon Musk, said that he targets to reduce federal spending on the Internal Revenue Service (IRS). Targeting The IRS The dynamic duo of Musk and Vivek Ramaswamy vowed to orchestrate a spending cut on federal agencies, aiming to reduce the federal budget by $2 trillion. The D.O.G.E. leaders said that they will pursue budget cuts on federal agencies which they consider as bloated or outdated. Musk said that one of these government agencies is the IRS, saying, “The IRS is a mess.” The Tesla CEO pointed out that the IRS has been plagued with inefficiency and scandals for years while suggesting a free tax filing app and the conduct of an audit. He also wanted to lay off a huge number of employees, reducing what he believed was “administrative overgrowth.” In a poll on X, Musk asked the netizens what the budget of the IRS should be. The federal agency is requesting an additional $20 billion in funds. “The IRS just said it wants $20B more money. Do you think its budget should be: Increased, Same, Decreased, Deleted,” he said. The poll results showed that 60.6% of the respondents wanted to delete the IRS budget while 29.9% voted to decrease the budget. Meanwhile, 5.6% said they are in favor of increasing the budget while 3.9% agreed that it should remain the same. Other Agencies In The Crosshair Musk and Vivek are eyeing to scrutinize the budget of multiple federal agencies to cut government spending. The duo also targets another watchdog agency for financial practices, the Consumer Financial Protection Bureau (CFPB). Musk recommended deleting the CFPB, raising concerns about the future of the agency. #ElonMusk #DOGE #Bitcoin #Altcoins #Cryptonews

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Elon Musk’s D.O.G.E. Targets The IRS: Taxman In The Crosshairs

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US Supreme Court Allows States to Issue Gold-Backed Currencies The US Federal Reserve has ruled that states can issue alternative currencies. Though gold and silver-backed currencies are recognized, Bitcoin may also gain entry in the future.The US Supreme Court recently permitted 40 states to issue gold—and silver-backed currencies. This move could usher the US crypto economy in a new direction and raise the possibility of Bitcoin (BTC) integration. US Supreme Court Endorses Dual Banking SystemWhile national banks are subject primarily to federal oversight and regulation, state banks are subject to additional regional regulation. These two banking systems coexist and compete. However, a new development concerns state-sponsored banks and their power to issue gold—and silver-backed currencies. “The United States maintains a dual system of banking, made up of parallel federal and state banking systems. That dual system allows privately owned banks to choose whether to obtain a charter from the Federal Government or from a state government,” the Supreme Court noted. Under the dual banking system, each state in the United States has its own banking system, which runs concurrently with the Federal Reserve. Additionally, state-sponsored banks can now buy gold reserves and withdraw from the Federal Reserve system. This creates a dual banking model where state banks can operate independently of the corporate Fed system. This system has profound implications for the US financial systems. First, states that opt to establish gold—and silver-backed currencies may minimize their reliance on the Federal Reserve. Second, it allows for alternate currencies like digital assets within individual states. For instance, Louisiana, Utah, and Texas have all passed legislation recognizing gold and silver as legal tender. South Carolina has also taken steps to recognize gold and silver as legal tender. #USACryptoTrends #Bitcoin #cryptocurrency #cryptomarket #Cryptonews

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