VET Gains 90% in December; Analyst Sees $0.63 in 100 Days

VeChain (VET) surged nearly 90% in the first three days of December 2024 to grab crypto analysts‘ attention. This rally added to the crypto token’s post-election bullish run after VET broke out of a descending channel.

Altogether, the supply chain management-focused crypto asset has gained almost 330% since the beginning of November. VET opened trading at $0.019 on November 5 before rallying to $0.08 by December 3. However, a slight retracement pushed the price lower to $0.067 at the time of writing.

Analyst Predicts Massive Rally for VeChain (VET)

Following VET‘s performance, a market watcher on X predicted a massive rally for the cryptocurrency in the next 100 days. The analyst based his prediction on VET’s historical behavior, highlighting how the altcoin‘s recent performance mirrored last cycle’s 65% dump.

The analyst believes VET has the potential to surge 3000% in the next 100 days. If this prediction comes true, the token would climb to $0.63, surpassing its current all-time high.

The analyst also noted that Coinbase Index 50 listed VET on its platform. This listing adds legitimacy to the crypto asset and places it among an elite group of projects. The analyst believes in VETs sustainability, citing its global partnerships and track record.

It is worth noting that VET was one cryptocurrency that performed exceptionally well at the beginning of 2024. The crypto asset carried a bullish momentum from September 2023 to gain over 270% as of February 2024. However, a market correction saw the altcoin lose 65% of its value before regaining its bullish momentum with a recent breakout from a prolonged descending channel.