VeChain (VET) Rallies 58%, Can it Hit $0.08 Next?

Paigambar Mohan Raj
VeChain New Year Price Prediction: How High Can VET Go?
Source: Binance Academy

VeChain (VET) has witnessed a significant price spike over the last week. The asset has rallied by 41% in the weekly charts, 58.3% in the 14-day charts, and 54.3% over the previous week. Moreover, VET’s price has surged by 46.9% since February 2023. However, the asset has faced a 4.4% correction in the last 24 hours.

Source: CoinGecko

Also Read: VeChain: VET Surge Signals Bullish Trend, Experts Suggest

While the crypto market is following Bitcoin’s (BTC) trajectory, VeChain’s (VET) recent rally may be due to a new trademark application. The project has registered the V3TR trademark in the United States, which aims to participate in the financial transactions sector, covering billions in value. Industry experts predict the global financial transactions industry will reach $20 trillion by 2026.

Will VeChain (VET) hit $0.08 next?

Source: CoinCentral

Reaching $0.08 from current levels would translate to a growth of about 81%. Although VET has seen a significant rally over the previous week, the asset may not hit $0.08 soon.

According to CoinCodex, VET’s price will dip over the next few days. The platform anticipates VET to fall to $0.041 by the end of this month, a decline of about 6.8% from current levels.

Source: CoinCodex

Also Read: VeChain: VET Set to Make Major Announcement

Changelly, on the other hand, anticipates VeChain (VET) to hit a maximum price of $0.0496 in February. Reaching $0.0496 from current levels would translate to a growth of about 12.7% from current levels. However, Changelly does not anticipate VET to hit $0.08 this year. The platform predicts VET to reach $0.0811 in February 2025, a year from now.

Telegaon also does not anticipate VeChain (VET) to hit $0.08 this year. The platform anticipates VET to hit a maximum price of $0.055 in 2024. However, the asset could reach a high of $0.084 in 2025.