VeChain is set to have a promising year in 2024, as its increasing adoption in the real world is expected to positively impact its token price. CoinCodex predicts that VeChain will reach $0.12 before the end of the year. However, it is unlikely to reach its all-time high price of $0.28 until at least 2029, disappointing those who were hoping for a breakout year in 2024.
VeChain has gained recognition as one of the blockchain networks making significant strides in real-world applications and leading the way in enterprise adoption. Despite this, the price charts for VET have not shown any significant movements. According to analysts at CoinCodex, although the token will experience some gains in 2024, it will take another five years for VET to reclaim its all-time high.
At present, VET is trading at $0.033, with a gain of 10.85% in the past 24 hours. However, over the past week, it has remained within the same trading range and has only seen a 4.5% increase since January 4.
CoinCodex, a cryptocurrency price data platform, predicts that VET will experience a price spike this year, reaching a 52-week high of $0.12. This would represent a 263% surge from its current price. However, CoinCodex further forecasts that this will be the highest price VET can reach in 2025, and its lowest price that year will be $0.03.
In 2026, VET is expected to reach its annual high at $0.09. However, the following year will bring a bear market, and its highest price in 2027 will be $0.033, similar to its current price. 2028 is projected to be a lackluster year, with the highest predicted price being $0.035.
CoinCodex states that it will take at least another five years for VET to approach $0.28, which it last reached in April 2021. However, even then, the highest price it will reach is $0.0277. The following year, it will dip to $0.019. It is only in the next decade that VeChain will reach $0.028, with a projected yearly high in 2031 of $0.036.
Analysts have differing opinions on what lies ahead for VET. One predicts that VeChain’s native token will 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 indicates the beginning of a significant bull run when the short-term moving average crosses the long-term moving average.
Other analysts are equally bullish, with one predicting that VeChain could reach $2, representing a 5,400% price jump. They highlight the fact that VET has previously defied expectations, gaining over 17,000% and outperforming many other coins.
In summary, VeChain is expected to have a better year in 2024, with a projected price of $0.12. However, it is unlikely to reach its all-time high of $0.28 until at least 2029. Various analysts have differing opinions on the future price of VET, with some predicting significant price jumps and others emphasizing its past performance.