VeChain: Anticipating a VET Rise to $0.28 by 2024?

• VeChain's Performance and Future Outlook
• Can VeChain Revisit its All-time High?
• VeChain Forecast: A Breach of $0.28 in 2024?
• Potential Future Performance
• Current Situation of VeChain

VeChain's Performance and Future Outlook

It is notably recalled that VeChain peaked at its all-time high of $0.281 during the crypto bull run in April 2021. However, following this, the value of VET started to decline, a trend that persisted through the bear market of 2022 and into 2024. This supply chain-oriented cryptocurrency continues to experience a relentless dip, with no signs of recovery after 30 long months, thereby testing investor patience with consistent losses and minimal gains.

Can VeChain Revisit its All-time High?

As the cryptocurrency market starts gaining bullish momentum driven by speculations around Bitcoin$42,260 -0.64% ETF, the question arises: Can VeChain reclaim its all-time high of $0.28 in 2024, especially if the SEC gives green signal to the BTC ETF? This article focuses on the possibility of VET reaching its ATH of $0.28 in 2024.

VeChain Forecast: A Breach of $0.28 in 2024?

Leading on-chain metrics and price prediction firm, CoinCodex, portrays a rather pessimistic scenario for VET in 2024 and beyond. According to their prediction, it seems unlikely that VeChain will be able to breach its ATH of $0.28 in 2024, with the firm projecting that the maximum price VET might trade at in 2024 and 2025 is around the $0.12 mark. This is significantly less than its ATH of $0.28.

Potential Future Performance

The prediction further suggests that the nearest price point at which VET could approach its ATH is $0.27, but not until 2029. This is a long-term prediction spanning five years, during which the markets can be expected to undergo significant changes. Hence, it seems unlikely that VeChain will breach its ATH of $0.28 in 2024 and 2025, let alone surpass it within this decade.

Current Situation of VeChain

As of the time of this report, VeChain was trading at $0.032 and had an uptick of almost 7% in the last 24 hours. However, it is important to note that VET is still nearly 89% down from its all-time high of $0.28, achieved in April 2021.

Edited by Jonathan Stoker