Like many other alternative cryptocurrencies, VeChain’s VET has had a significant increase in value over the last day, and it is currently trading at $0.04969. The coin’s trading volume has increased by 42.0% in the past week. During this time, the altcoin market as a whole has grown significantly, with VeChain and other altcoins profiting most from the current Bitcoin surge. In the last day, Bitcoin has increased in value by about 6%, hitting a trading value of over $54,000.
VET has shown a notable 58.8% gain in 14-day charts, a 4.5% rise in weekly charts, a 6.1% increase in daily charts, and an astounding over 73% growth over the preceding month in certain timeframes. Additionally, since February 2023, VET has increased by an astounding 76.5%.
VeChain Analysis
Changelly’s study indicates that by March 2024, VeChain (VET) could reach a high price of $0.0495. Reaching this point from where it is now would represent an increase of about 5.3%. Changelly predicts that by the end of the year, VET might perhaps hit a maximum price of $0.0720 by December 2024. This rise from the current levels would indicate a roughly 53% gain. Furthermore, Changelly projects that by June 2028, more than four years from now, VET might recover its prior all-time high of $0.28.
Telegaon, on the other hand, has a more cautious perspective for VeChain (VET) and believes that its highest price this year would be $0.055. If current levels are met, this aim would mean a growth of almost 17%. Telegaon projects that in 2027, or roughly three years from now, VET will reach its all-time high of $0.28.
VeChain (VET) may consolidate at these levels, per CoinCodex. On March 17, 2024, the platform projects that the price of VET will increase to $0.0488.
It’s possible that VeChain (VET) will start to rise later in the year, particularly if the market moves into a bull market. VeChain’s ATH is at $0.28. VeChain is therefore still a long way from realizing its full potential. But if the cryptocurrency continues to gain strength thanks to the current Bitcoin rally, VET might rise even more. The coin has already reached its highest point in a whole year. There is still more work ahead of the altcoin market as a whole if it is to achieve its 2021 levels. On the plus side, the market is currently trending upward.