Expert Forecasts Explosive Surge for VeChain (VET): Anticipating a Staggering 5,455% Jump Toward $2
VeChain has been known to do 188x in a bull cycle, and according to one analyst, itâs one of the tokens set to implode in this bull market despite being one of the âold coins.âThe token has been in two cycles, the first as an ERC-20 token (VEN) and then as a standalone project (VET); the analyst says itâs due a third surge, which could surpass 5,000%.
VeChain was once one of the most implosive cryptocurrencies in the market, hitting over 17,000% gains in two previous bull markets. Since then, tokens like Solana and Avalanche have taken the spotlight, getting all the investor funding. However, according to one analyst, VET might be one of the tokens to watch in the current bull cycle, and he predicts it will surge by over 5,000%.
VeChain is trading at $0.03453 at press time, shedding just over 4% in the past day. In the past month, it has gained 60%; since the year began, it has shot up 122%.
Despite having a market cap exceeding $2.5 billion, the token has failed to attract investor interest, with its trading volume at $49 million. This ranks below smaller projects like Terra Classic, NEO, Axie Infinity and MultiverseX, formerly Elrond.
Despite dropping out of favour with investors, one analyst believes it might be the project to watch in the upcoming bull cycle. Known to his followers as Raidenx, the analyst says that VET is heading to $1, which would be a 5,400% surge from its current price. This would push its market cap to $72 billion, which, by todayâs standards, would only be bettered by Bitcoin, Ether and Tether.
âIf you only knew what was coming, you would be shaking with excitement,â the analyst says, urging investors to ignore all the influencers who dismiss VET as an âold coin.â
VeChain (VET) to $1
As the analyst points out, VeChain has been through two other major bull runs. In its first, it gained 18,800% to hit new highs in 2018. Back then, it was known as VEN and was deployed on Ethereum as an ERC-20 token.
The VeChain team then migrated the project from the Ethereum network to its own blockchain and rebranded as VET. As the analyst observes, the naysayers dismissed VET as an old coin, but again, it ended up being one of the best performers in the market, hitting over 17,000% in gains.
In the last cycle VET was considered an âold coinâ & your favourite influencers told you to only look at new coins as old ones wouldnât perform. VET outperformed 99% of them & did over 177x!
All these gains were prior to the major moves that VeChain has made since. They include becoming the poster child for blockchain-based environmental conservation through its partnership with BCG. As CNF has reported severally, the two are building an ecosystem in which users are rewarded for their actions towards saving the planet, incentivizing conservation for the masses.
$VET #VET #VeChain