VeChain (VET) became the recipient of a new price analysis by a renowned crypto market observer, “Raidnex.” Contrary to what most other crypto analysts have speculated about VeChain’s future, Raidnex appears confident that the crypto asset still boasts potential for expansion.
In his latest VET analysis, Raidnex noted the possibility of a $1 selling price occurrence. Taking to X, the crypto analyst tweeted, “$1 $VET possible? If you only knew what was coming, you would be shaking with excitement.”
$1 $VET possible? If you only knew what was coming you would be shaking with excitement.
— raidenx (@benj_strong) December 23, 2023
Many influencers tell you not to look at an 'old coin' like Vechain since it has already been through a bull cycle.
This is its third cycle and I will tell you why it is special 🧵 (1/4) https://t.co/SBJ3SUCvpU
Read Also: Top Analyst Projects VeChain (VET) To Rally 7,592% to Reach $2.3. Here’s the Timeline
VeChain’s Third Cycle Is A Special One – Raidnex
Raidnex remarked that most crypto influencers seem to be preaching about VET already outliving its best years during its bull cycle. However, he does not feel the same way, as he believes that VET is currently in its third cycle, which he deems unique.
Going down memory lane, Raidnex commented about VeChain’s earlier days when it was previously referred to as VEN. He highlighted the token’s remarkable 18,800% surge that happened between 2017 and 2018, orchestrating the increment that spiked the coin’s value from $0.05 to $9.45.
While there seems to be no concrete statistical evidence to support the above remarkable price actions, it was arguably the pace-setter for VeChain’s transition to its blockchain from the previous Ethereum ERC-20 network. It also led to the rebranding from VEN to VET.
VeChain (VET) Remains Strong
In the previous cycle, VET spiked by 16,450%, which saw it outperform its peers and increase from $0.001678 to $0.2782.
Adding to its strong backing, VeChain is renowned for its partnerships with top entities like UFC and Boston Consulting Group.
Meanwhile, despite enjoying strong support, the VeChain marketing team is still bent on crafting means to remain relevant in the crypto sphere.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Expert Projects VeChain (VET) to Lead $18 Trillion Logistics Market with Its Topnotch Innovations
Plans are in place to launch the updated VeChain tokenomics by February 2024. Should the proposed tokenomocs launch play out, coupled with a potential positive influence from Bitcoin spot ETF, it becomes safe to say that VET will be a main partaker of the coming bull season.
Rounding up his take on VET’s price trajectory, Raidnex shared a convincing price chart projecting VeChain to attain a potential $2 price level in 2025.
Notably, VET’s data on CoinGecko revealed the digital asset’s price to be approximately $0.036. Reaching $2 from the current price implies about 5,455% rally.
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