If You Invested $500 in Shiba Inu (SHIB) Today, This Is How Much You Could Make

Shiba Inu (SHIB) has seen a strong rally in recent days, with its price jumping from around $0.000013 to above $0.000015. This rise comes during a broader market recovery

Shiba Inu (SHIB) has been on a roll lately, continuing to recover from the broader market downturn. Though the token is still in the red year-to-date, its recent gains have been impressive.

As the U.S. and the U.K. announced a new trade agreement, putting an emphasis on the role of technology in shaping the partnership for the future, SHIB’s price went up by 3.5% in the past 24 hours. At the time of writing, SHIB trades at $0.00001558.

In the past week, SHIB has gained 17.59%. The token also saw a 30% increase in the last 30 days. However, SHIB is still down 26.4% year-to-date, despite recovering from the lows it hit earlier in 2023.

Earlier this week, Shiba Inu’s gains were largely driven by the launch of ShibPay, a new payment service from the token’s ecosystem.

ShibPay will allow users to pay for goods and services using SHIB and other tokens. The service is being launched in partnership with Italian restaurant chain Pasta e Poeta and will be available at all of the chain’s restaurants in Italy.

ShibPay is part of Shiba Inu’s broader efforts to increase the token’s adoption. The token has already been listed by several major cryptocurrency exchanges and is accepted by a growing number of merchants.

Despite the impressive gains that Shiba Inu has made in recent days, it is still a volatile asset and investors should be aware of the risks involved before making any investment decisions.

At the current price of $0.00058, $500 would buy about 32 million SHIB tokens. For this investment to grow to $50,000, $100,000, or $500,000, the price of SHIB would need to increase by 9,900%, 19,900%, or 99,900%, respectively.

That would require the price of SHIB to hit:

* $0.005148

* $0.010553

* $0.051433

According to Changelly analysts, the target of $0.001558 could be reached between 2035 and 2039. They believe $0.003116 may come by 2040, while $0.01558 could happen by 2041—if SHIB continues to grow.

Some in the SHIB community still hope for the token to hit $0.01 someday. While it’s a challenging goal, Shiba Inu’s marketing lead said it is possible, though it will take time.