VeChain: Will A Bull Run Push VET’s Price To $1?

Vinod Dsouza
vechain vet
Source: Twitter

VeChain is trading at $0.018 on Monday delivering little to no profits to investors in the last three months. VET is trading flat as it barely rallied in price and failed to climb above the $0.020 mark. The last time VeChain went above $0.021 was in May 2023, and the token has only moved backward since then.

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VET/USD Chart by TradingView

Investors are eager to see VeChain hit the $1 mark and believe that only a bull run could make it achieve the target. In this article, we will highlight if VeChain can reach the $1 milestone when the next bull run begins.

VeChain: Can VET Reach $1 When The Next Bull Run Starts?

vechain vet

During the phenomenal 2021 bull run, the all-time high that VET reached was $0.28. The cryptocurrency failed to pick up steam thereon and mostly went south than north as the rally came to an end. So will VET reach the $1 milestone by the end of the decade before 2023? The answer is no. VeChain has miles to go in order to reach $1 and it might not occur anytime shortly.

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Leading on-chain metrics and price prediction firm Changelly painted a rosy picture for VET but it does not forecast a $1 price target. According to Changelly, VeChain could reach a maximum price point and a new all-time high of $0.67 nine years from now in 2032. That’s 33 Cents short of the mark in reaching $1 by the beginning of the next decade.

Source: Changelly

However, the forecast of VET reaching $0.67 in 2032 is approximately a spike of 3,700% from its current price of $0.018. Therefore, an investment of $1,000 today could fetch $35,000 in 2032 if the price prediction turns out to be true.

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Nonetheless, there is no guarantee that VET could reach $0.67 in the next nine years. The cryptocurrency markets are highly volatile and could cut both ways causing losses. It is advised to do thorough research before taking an entry position into VET.