VeChain is set to have a promising year in 2024, with its token price expected to reach $0.12 by the end of the year. This positive outlook is attributed to the continued adoption of VeChain in various industries. However, analysts predict that it will take at least five more years before VeChain can surpass its all-time high price of $0.28, which means that 2024 may not be the breakout year for VET.
Currently, VET is trading at $0.033, showing a gain of 10.85% in the past 24 hours. However, its performance over the past week has been relatively stagnant, with only a 4.5% increase from its price on January 4.
According to CoinCodex, a crypto price data platform, VET is expected to experience a price spike this year, reaching a 52-week high of $0.12. This would represent a significant surge of 263% from its current price. CoinCodex also predicts that this will be the highest price VET can achieve in 2025, with its price bottoming out at $0.03 in the same year.
In 2026, VET is projected to reach an annual high of $0.09. However, the following year will see a bear market, causing VET’s highest price in 2027 to be $0.033, similar to its current price. 2028 is expected to be a lackluster year, with the highest predicted price being $0.035.
To reach its previous all-time high of $0.28, which was last achieved in April 2021, VeChain will need at least five more years, according to CoinCodex. However, even then, the highest price it can reach is estimated to be $0.0277. This will be followed by a dip the following year to $0.019. It will only reach $0.028 in the next decade, with a projected yearly high of $0.036 in 2031.
Analysts have differing predictions about VeChain’s future. One analyst believes that VET will reach $1.14 by October, which would give it an $82 billion market cap. This prediction is based on the golden cross indicator, which suggests the beginning of a significant bull run. Another analyst predicts that VeChain could experience a massive price jump of 5,400% and reach $2. This analyst, named Raidenx, reminds skeptics that VeChain has proven doubters wrong in the past, gaining over 17,000% despite being considered an “old coin.”
Overall, VeChain’s future looks promising, with its continued adoption in real-world applications. While it may take some time for VET to reach its previous all-time high, there are optimistic predictions about its potential for growth in the coming years.