- According to CoinCodex, VeChain will have a better year in 2024 and will hit $0.12 before the end of the year as its continued adoption translates to its token price.
- However, the platform predicts that VeChain can’t hit $0.28, which is its all-time high price, before at least 2029, dashing hopes of 2024 being VET’s breakout year.
VeChain is in conversation as one of the blockchain networks making the biggest impact in the real world and leading in adoption in enterprise circles. However, on the price charts, VET has failed to make any significant moves, and according to analysts from CoinCodex, while 2024 will bring some gains to the token, it will be at least five more years before VET can reclaim its all-time high of $0.28.
VET trades at $0.033 at press time, gaining 10.85% in the past 24 hours. However, in the past week, it has traded in the same range and has only gained 4.5% from its price level on January 4.
According to CoinCodex, a crypto price data platform, VET will record a price spike this year to hit a 52-week high at $0.12. This would be a 263% surge from its current price. CoinCodex further predicts this will also be the highest price the token can hit in 2025. However, in 2025, its current price of $0.03 will be the lowest it hits.
In 2026, the token will record an annual high at $0.09, but the following year, it will experience a bear market and its highest price in 2027 will be $0.033, similar to its current price. 2028 will be a lacklustre year, with the predicted highest price being $0.035.
For VET to come within touching distance of $0.28, which it last hit in April 2021, it will take at least another five years, CoinCodez says. But even then, the highest it will hit will be $0.0277, and this will be followed by a dip the following year to $0.019. VeChaiin will only hit $0.028 in the next decade, with the platform predicting a yearly high in 2031 of $0.036.
Will VeChain (VET) Reclaim $0.28?
Analysts have been making varying predictions on what happens next for VET. According to one, VeChain’s native token will hit $1.14 by October, which would be its highest price ever and give it an $82 billion market cap. He pointed to the golden cross, an indicator that shows when the short-term moving average crosses the long-term moving average and is usually a marker for the beginning of a significant bull run.
Others are just as bullish. One analyst predicts that VeChain could hit $2, a 5,400% price jump. And before you dismiss the prediction, since major cap tokens rarely make these big jumps, the analyst—Raidenx—reminds you that this isn’t the first time VET has been dismissed, only to punish its doubters by gaining over 17,000%.
He noted:
In the last cycle, VET was considered an ‘old coin’ & your favourite influencers told you to only look at new coins as old ones wouldn’t perform. VET outperformed 99% of them & did over 177x!
