VeChain is projected to have a successful year in 2024 and reach a price of $0.12 by the end of the year, thanks to its increasing adoption and utilization. However, the platform’s all-time high price of $0.28 is not expected to be reached until at least 2029, disappointing hopes of a breakout year in 2024.
VeChain is gaining recognition as one of the most influential blockchain networks in the real world and is leading the way in enterprise adoption. Despite this, the token’s price performance has been lackluster. According to analysts from CoinCodex, although there will be some gains for the token in 2024, it will take at least five more years for VeChain to reclaim its all-time high of $0.28.
At present, VET is trading at $0.033, with a 10.85% increase in the past 24 hours. However, over the past week, it has remained within the same price range and has only gained 4.5% since January 4.
CoinCodex, a cryptocurrency price data platform, predicts that VET will experience a price surge this year, reaching a 52-week high of $0.12. This would represent a 263% increase from its current price. However, CoinCodex also forecasts that this will be the highest price the token can achieve in 2025, with its price leveling off at $0.03.
In 2026, VeChain’s token is expected to reach an annual high of $0.09, but it will face a bear market in the following year, with its highest price in 2027 matching its current price of $0.033. 2028 is projected to be a lackluster year, with the highest predicted price being $0.035.
According to CoinCodex, it will take at least another five years for VET to come close to its previous high of $0.28, last achieved in April 2021. Even then, the highest price it will reach is predicted to be $0.0277, followed by a dip to $0.019 the following year. VeChain is only expected to reach $0.028 in the next decade, with a projected annual high of $0.036 in 2031.
Analysts have differing predictions for VeChain’s future. One analyst believes that VeChain’s native token could reach $1.14 by October, marking its highest price ever and giving it an $82 billion market cap. This prediction is based on the golden cross indicator, which signifies the beginning of a significant bull run when the short-term moving average crosses the long-term moving average.
Other analysts are equally optimistic, with one predicting a price jump of 5,400% to $2. This analyst, Raidenx, emphasizes that VeChain has previously surpassed expectations, gaining over 17,000% despite being dismissed as an “old coin” by influencers who favored new coins.
In summary, VeChain is expected to have a strong year in 2024, but it will take several more years for it to reach its previous all-time high. However, some analysts believe that VeChain’s token has the potential for significant growth in the future, surpassing previous expectations.