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My bullrun top targets for #VeChain ( $VET ): – Conservative: $0,46 – Base: $1,50 – Bull: $2,06
4:42 AM · Dec 3, 2024
VeChain (VET), a blockchain platform known for its real-world applications in supply chain management and sustainability, has recently experienced a remarkable surge in both its ecosystem activity and token price.
The price of VET just hit a two-year high of $0.07901, driven by innovative developments such as the launch of VeBetterDAO.
VeChain price has gained 249% over the past month
After years of trading below $0.07, VET on December 5 soared to a two-year high of $0.07901, after a 253% increase over the past 30 days.
Although a slight correction has brought the token’s price back to $0.06877, VeChain remains one of the top performers in the cryptocurrency market at the moment.
At press time, VeChain (VET) was up 62% over the past week and 249% over the past month.
VeChain’s renewed momentum, which coincides with its addition to Coinbase’s COIN50 Index, which tracks top-performing cryptocurrencies, has also propelled the altcoin into the spotlight, as investors closely monitor its ability to break through the critical $0.1 psychological level.
Notably, VeChain’s price resurgence aligns with a broader bullish trend among large-cap altcoins, with assets like XRP and Tron also experiencing remarkable gains.
Why is the price of VeChain rising?
One of the most significant contributors to VeChain’s rising prominence is VeBetterDAO, a recently launched decentralized autonomous organization (DAO) that drives sustainability and real-world impact.
VeBetterDAO focuses on tokenizing eco-friendly actions and promoting transparency through blockchain technology.
Users are rewarded with B3TR tokens for participating in dApps that promote activities such as recycling, energy conservation, and community cleanups.
Several decentralized applications (dApps) within the VeBetterDAO ecosystem among them Cleanify, Oily, Greencart, and Vyoo, are already demonstrating VeBetterDAO’s real-world utility.
Cleanify rewards users for organizing and participating in cleanup efforts, while Oily incentivizes the recycling of used cooking oil. Similarly, Greencart encourages sustainable shopping habits, and Vyvo promotes health-conscious behaviours.
VeBetterDAO has also forged key partnerships to amplify its impact.
It has forged partnerships with entities like Molino Bruno and UFC, showcasing its ability to merge sustainability with enterprise applications.
In addition, VeChain recently announced a partnership with Renji Hospital, aimed at transforming IVF services with secure, private data management.
This partnership adds to the billion-dollar partnerships VeChain has entered with Walmart, BMW, Mercedes, and others, causing the network’s activity to explode.
Can the VET price hit $0.1?
As VeChain continues its upward trajectory, the question of whether VET can reach $0.1 has gained traction among investors.
Market analysts remain optimistic, with some projecting that the token could easily surge above $0.4 if it maintained the current market trend.
Beyond this milestone, ambitious forecasts place VET at $0.74 and even $1.5 to $2.06 in the longer term.
With its innovative initiatives like VeBetterDAO, growing enterprise partnerships, and strong price performance, VET’s ability to integrate real-world applications with cutting-edge technology could drive its price to new all-time highs and possibly hit $0.1 by end of this week
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