Analyst Anticipates VeChain (VET) Triple Bottom Signal, Foreseeing an Astonishing 14,400% Surge Towards Unprecedented Peak

An analyst has observed a triple bottom for VeChain (VET) at the $0.01349 level, followed by a surge and a minor correction, which he predicts will lead to significant gains for the token.
The last time VET had a triple bottom, it experienced a remarkable increase of 14,000% and reached an all-time high of $0.28. The analyst believes that history will repeat itself.
VeChain has recently hit a triple bottom, and according to the analyst, it is poised to skyrocket by over 14,000% and surpass its previous all-time high to reach above $1.6.
Currently trading at $0.03632, VET has gained 4% in the past day, resulting in a market capitalization of $2.6 billion. The token experienced a surge earlier in the week to $0.039, but lost momentum and dropped to a weekly low of $0.0345. Since then, it has been steadily increasing as it approaches the weekend, which typically sees low trading volumes and price dips.
Egrag Crypto, a well-known analyst in the crypto industry, suggests that VET could be on the verge of a record-breaking bull run. The analyst shared a chart indicating that VET has reached a triple bottom, which is a signal of an imminent surge.
VET’s triple bottom tested the support level at $0.01349 before bouncing back slightly, only to retest it and bounce back again. After the third test, the token rebounded and nearly doubled in price to $0.024. The momentum then subsided before reigniting and reaching $0.05.
Egrag’s projection is based on a similar pattern observed in 2019. VET had a triple bottom before breaking free in mid-2020. Similar to the current market, the initial wave of momentum faded after a few months, and the token experienced a slight dip. However, a second wave took over, and by early 2021, VET reached $0.2802, representing a surge of 14,464% from its triple bottom, as shown in the chart below. The analyst humorously inverted the graph to mock VeChain’s critics who claim that it is on the verge of collapse.
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According to the chart, the analyst predicts that VeChain will once again experience a surge of over 14,000% from its triple-bottom price and reach $1.6. If VET reaches $1.6, its market capitalization will reach $116 billion, making it the third-largest cryptocurrency project after Bitcoin and Ethereum.
Egrag is not the only analyst projecting a surge for VET. Ali Martinez shared a similar triple-bottom chart on X and stated that he believes the token will rebound in the summer and experience explosive growth in the fall.
Another analyst has pointed out that the token is currently exhibiting an overlapping corrective flagging price structure to the daily 200 EMA, as shown below.
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Meanwhile, the VeChain ecosystem is continuing to expand, as reported by Crypto News Flash. The VeChain Foundation announced that VeWorld, the ecosystem’s official non-custodial wallet, has reached one million downloads, which is an impressive achievement considering its relatively short existence.
The Foundation stated:
“This marks a significant milestone in VeChain’s adoption journey. With over 1.3 million wallets created and 8,000 weekly active users, the VeChain ecosystem is continuing to grow.”
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