Ultra Bullish Predictions Suggest 100x Gains Coming for VeChain VET Token

The price of VeChain’s VET token has been surging over the last week, gaining over 10% to hit its highest levels since May 2022. The broader cryptocurrency market boost has lifted all boats, but analysts have their sights set much higher for VeChain specifically in the next bull cycle.

TLDR

• Crypto analyst Egrag Crypto made an ultra-bullish prediction that VeChain (VET) could see a 50x or even 140x price gain in the next bull market
• This would mean VET rising to $0.9 or as high as $2 to set a new all-time high, based on similar percentage gains seen historically
• Other analysts have also recently predicted new highs for VET if it can break key resistance levels around $0.033
• VET price has already risen over 10% in the past week and hit levels not seen since May 2022
• Current VET rally seems fueled by broader boost in crypto market and Bitcoin rally, with altcoins rising in tandem

Crypto analyst Egrag Crypto put out an ultra-bullish prediction that VeChain could rally 50x or even 140x in the next significant market run. His analysis shows VET rising to $0.9 if it sees percentage gains comparable to 2019.

But an even more dramatic 140x price multiplication to $2 is possible if VeChain matches its epic 14,638% breakout in 2021.

#VET will unlock ur financial chains(Update):

Closing this week's candle above the Fibonacci 0.382 level will not only solidify our current position but also set the stage for us to swiftly reach our next target at the Fibonacci 0.702 level (0.11c).

Rest assured, our targets… https://t.co/dNILsCf7T2 pic.twitter.com/LKuuUWfRxS

— EGRAG CRYPTO (@egragcrypto) February 16, 2024

Egrag is not alone in forecasting new all-time highs for VeChain, which hit $0.27 briefly last year. Fellow analyst

Crypto ZX sees VET breaking key resistance around $0.033 before surging to new highs. It has already broken past that level in recent days amidst the broad-based crypto boost.

VeChain has gained alongside Bitcoin and the wider cryptocurrency market, which saw investment inflows near $600 million last week. The excitement has spilled over to altcoins, with VeChain’s 24-hour trading volume rising 42% in the past week. VeChain now sits at $0.05 per VET, with a market capitalization of $3.6 billion making it a top 35 project.

Crypto market sentiment has clearly turned bullish in recent weeks. But VeChain seems to have particular momentum with multiple analysts pointing to key breakout levels that could unleash VET’s next parabolic run. The fundamentals may also support the ultra-bullish projections.

As an enterprise blockchain focused on supply chain management, VeChain is piquing the interest of major global companies in China and beyond. It already boasts partnerships with brands like Walmart China, Bayer China, and even a collaboration with the Chinese government. Real-world adoption across key industries could propel VeChain’s native token to unforeseen heights.

If Bitcoin’s momentum continues to lift all altcoins broadly, VeChain could ride that wave. But the extra kicker for VET seems to be conviction amongst market analysts that 10x or even 100x returns await during the next explosive bull market. Traders and long-term investors alike may want to keep an eye on this fast-moving blockchain project.

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