- VeChain has been known to do 188x in a bull cycle, and according to one analyst, it’s one of the tokens set to implode in this bull market despite being one of the ‘old coins.’
- The token has been in two cycles, the first as an ERC-20 token (VEN) and then as a standalone project (VET); the analyst says it’s due a third surge, which could surpass 5,000%.
VeChain was once one of the most implosive cryptocurrencies in the market, hitting over 17,000% gains in two previous bull markets. Since then, tokens like Solana and Avalanche have taken the spotlight, getting all the investor funding. However, according to one analyst, VET might be one of the tokens to watch in the current bull cycle, and he predicts it will surge by over 5,000%.
VeChain is trading at $0.03453 at press time, shedding just over 4% in the past day. In the past month, it has gained 60%; since the year began, it has shot up 122%.
Despite having a market cap exceeding $2.5 billion, the token has failed to attract investor interest, with its trading volume at $49 million. This ranks below smaller projects like Terra Classic, NEO, Axie Infinity and MultiverseX, formerly Elrond.
Despite dropping out of favour with investors, one analyst believes it might be the project to watch in the upcoming bull cycle. Known to his followers as Raidenx, the analyst says that VET is heading to $1, which would be a 5,400% surge from its current price. This would push its market cap to $72 billion, which, by today’s standards, would only be bettered by Bitcoin, Ether and Tether.
“If you only knew what was coming, you would be shaking with excitement,” the analyst says, urging investors to ignore all the influencers who dismiss VET as an “old coin.”
$1 $VET possible? If you only knew what was coming you would be shaking with excitement.
Many influencers tell you not to look at an 'old coin' like Vechain since it has already been through a bull cycle.
This is its third cycle and I will tell you why it is special(1/4) https://t.co/SBJ3SUCvpU
— raidenx (@benj_strong) December 23, 2023
VeChain (VET) to $1
As the analyst points out, VeChain has been through two other major bull runs. In its first, it gained 18,800% to hit new highs in 2018. Back then, it was known as VEN and was deployed on Ethereum as an ERC-20 token.
The VeChain team then migrated the project from the Ethereum network to its own blockchain and rebranded as VET. As the analyst observes, the naysayers dismissed VET as an old coin, but again, it ended up being one of the best performers in the market, hitting over 17,000% in gains.
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!
All these gains were prior to the major moves that VeChain has made since. They include becoming the poster child for blockchain-based environmental conservation through its partnership with BCG. As CNF has reported severally, the two are building an ecosystem in which users are rewarded for their actions towards saving the planet, incentivizing conservation for the masses.
The analyst concludes:
All the above plus a potentially never-before-seen parabolic run for all of crypto due to BTC ETF + ETH ETF means I see VET going on another insane rally, which many will not expect. It will outperform many new coins just like last time. Load up and spread the word!
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