Despite witnessing a 2% correction in the weekly charts and a drop of 1.2% in the last 24hrs, VeChain (VET) has seen a commendable increase of over 25% in the last month, and almost 35% since January 2023 and 9.4% since November 2022.
The dip in recent price of VET may be attributed to the release of US CPI (Consumer Price Index) data with stifled inflation in the US. This week, VeChain is tracking the direction set by leaders of the crypto market, such as Bitcoin (BTC) and Ethereum (ETH).
According to a machine learning algorithm analysis by , VET could surpass $0.025 by the end of November; an upsurge of 17.9% from present values, while CoinCodex forecasts VET to experience an approx 5.6% drop to around $0.0200 by the same time. On the other hand, some other industry experts have forecasted VeChain to attain as high as $0.0498 by the end of November, which presents almost a hundred percent upsurge. However, attaining this figure is deemed highly improbable this soon.
VET is flourishing because of its strategic collaborations with multiple global firms such as Amazon, and its participation in various environmental related projects. Keeping an eye on the development’s VeChains enables reasonable projections of future growth in design.
