thecryptobasic.com
Renowned crypto analyst EGRAG has argued that the native token of the VeChain network, VET, has the potential to liberate investors into financial freedom.
The analyst’s bold declaration is grounded on the bullish trajectory VET is forecasted to cart in the coming weeks.
In a recent tweet, EGRAG revealed three upcoming price targets for VET. He emphasized that the digital asset is expected to attain these targets sequentially, with each one following the other, with the most optimistic target suggesting a potential return on investment of 7,000%.
As a result, EGRAG proclaimed in the tweet: “VET will unlock your financial chains.”
VET Target One
The chart accompanying EGRAG’s tweet suggested that VET has been moving within a descending parallel channel since approximately 2021. However, VET’s market chart indicated a new uptrend gradually forming.
With the emerging trend, the analyst pointed to a potential sustained upward trajectory for VET to $0.11642. Given its current price at $0.02944, this first target implies a possible growth rate of 295%.
Notably, the chart also suggested that the $0.11642 value is attainable in 2024.
VET Target Two and Three
Furthermore, the analyst identified a more promising future for VET in 2024 and beyond. Specifically, the chart shows that the digital asset is expected to grow 810% further, breaking into the one-dollar zone at $1.05737.
To put it in perspective, VET’s all-time high per CoinMarketCap data is $0.2782.
Meanwhile, the third target EGRAG hinted at was $2.3. Based on VET’s prevailing market value, the price point necessitates an explosive growth percentage of 7,702%.
Meanwhile, EGRAG has reiterated that his market insights do not constitute investment advice.
What Could Support VET’s Explosive Price Growth?
Notably, VeChain, the network backing VET, plays a pioneering function in a projected $18.23 trillion market. Recently, The Crypto Basic revealed that VeChain stands at the forefront of propelling innovation within the supply chain industry.
In particular, the project seeks to leverage blockchain technology and smart contracts to guarantee transparency and authenticity throughout the logistics industry.
Besides, VeChain has already showcased notable success stories within the logistics market, with behemoths like Walmart utilizing the platform to track fresh produce. Likewise, BMW employs it to authenticate luxury cars.