VeChain (VET) has rallied over 6% in the last 24 hours. Moreover, the token has surged by over 11% in the 14-day charts and over 58% in the monthly charts. Since January 2023, the token’s price has risen by around 140%.
Also Read: VeChain: Here’s How To Be a Millionaire When VET Hits $0.1
Can VeChain (VET) hit $0.10 soon?
The crypto market has begun 2024 on a positive note. Bitcoin (BTC) has surpassed the $45k mark for the first time since March 2022. Moreover, many analysts anticipate a bull market for the cryptocurrency space this year. A bull run could be due to the possible approval of one or more spot BTC ETFs (Exchange Traded Funds) and BTC’s halving event in April. Both developments could usher in a 2021-like bull run. In such a scenario, other significant assets, such as VeChain (VET), could also rally.
Also Read: VeChain VET Can Rally 4400% and Reach $1.60: Predicts Analyst.
According to Changelly, VET’s price will hover between $0.035 and $0.039 for most of January 2024. Moreover, the platform anticipates a maximum price of around $0.06 for the popular crypto, which Changelly says it may achieve around December. However, the platform does not expect VET to beach the $0.10 mark anytime soon. Changelly predicts VET to reach the $0.10 level sometime in June 2026, about two-and-a-half years from now.
CoinCodex also pains a similar outlook for VeChain (VET). The platform expects the crypto to consolidate around current levels, at least for now. According to CoinCodex, VET’s price could drop to around $0.035 by Feb. 1, 2024.
However, if we enter a bull run, these projections may change. There is a lot of talk about a crypto bull market in 2024, and in such a scenario, VeChain VET may surge to the $0.10 target before the anticipated date.