When and How VeChain Price Could Reach $1

The recent surge in cryptocurrency has pushed the market’s top projects into greens. VeChain Price (VET) has gained 8.7% in just 2 weeks and increased more than 66% from last month’s progress. However, the asset price has surged by 87.5% since March 2023.

However, the VeChain Price has made a 3.6% correction in the price chart in the last week, and the asset faces major resistance at around $0.050.

Can VeChain (VET) hit $1?

Reaching $1 is no easy journey for VET. The asset’s price has to rally nearly 2074% from current levels to hit $1. However, users and investors are hopeful VET will eventually reach its target.

From the Changelly, VeChain (VET) is not able to hit $1 till at last of February 2032, about eight years from now. So, the analysis of the market tells us that in 2024 the platform will try to hit the maximum price of $0.074, which is most likely to be achieved in November. After touching to $0.074 from the current state the growth ratio will increase to 60.8%.

Telegaon, from a different side, indicates that VeChain’s price will hit $1 in 2029, not only $1 it can reach $1.15. For 2024, Telegaon expects VET to hit a maximum price of $0.055. Reaching $0.055 from current levels would translate to a growth of about 19.5%.

Both platforms do not anticipate VeChain (VET) to breach the $1 mark before 5-8 years. Investors may grow impatient and sell before VET reaches its $1 target. However, there is also the possibility that the project launches innovative initiatives, pushing the asset’s price towards $1 much sooner than anticipated. Furthermore, if BTC surpasses its all-time high, we may witness another market rally, further propelling VET’s price.