Amid what is overarching positive market sentiment, VeChain is looking to break through a key resistance at $0.05 as the recently launched VeBetterDAO has created notable positive momentum. Indeed, the token has had an impressive month, and it looks to keep gaining over the next week.
At the end of the week, VET was trading at the $0.0439 level with room to keep moving upward. Indeed, the token had increased more than 97% in the last 30 days, according to CoinMarketCap. Additionally, it has increased more than 31% in the last seven days at the end of the week.
Also Read: VeChain Outperforms Bitcoin and Solana as VET Targets $0.1
VeChain Looks to Break Through $0.05 on Heels of VeBetterDAO Launch
With 2024 proving to be one of the most important in crypto’s history, November has certainly stood out. The presidential election win for Donald Trump signals a pro-crypto administration on the horizon.
The leading crypto has proven to be the rising tide that lifts all boats as the year approaches its conclusion. One asset that has benefitted the most is VeChain, as VET looks to break through the $0.05 level on the heels of its VeBetterDAO announcement. The launch could be a game changer. It has already boosted the token and combines real-world assets and decentralized autonomous organizations (DAOs) to create something new.
Also Read: VeChain Predicted to Surge 30%, Here’s When
Michael van de Poppe, the founder of MN Consultancy, took to X (formerly Twitter) to discuss the project. Specifically, he highlighted the impressive nature of VeChain’s recent price action. Moreover, he noted that its increase is proof of “older coins actually growing,” amid the recent bull rally.
The announcement has undoubtedly sparked interest in the token. Now, all eyes are on just how high it can go. The crypto market has surged in recent weeks, which could be huge in how VeChain responds. VET is currently facing support at the $0.020 level, with $0.05 representing a key resistance.