VeChain (VET) has been on a pretty good run in 2023. Since January, its price has shot up by around 37.5%, making some noticeable gains. In the daily charts, VET has seen a decent 3.6% surge, and over the last week, it jumped up by 7.9%. Plus, looking at the 14-day charts, it’s up by 3.2%, and over the past month, it’s shown a solid 13.6% rise.
Although VET took a dip in mid-November, it’s been picking up steam lately, sparking fresh predictions about its price. The dip in November seems linked to the US CPI (Consumer Price Index) data release, which affected many cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and others, causing prices to tumble.
PricePredictions’ machine learning algorithm isn’t painting a very rosy picture for VET in December. They project a bearish outlook, estimating VET to possibly drop to $0.02068 by December 6, 2023, marking a 4.3% decrease from its current levels. And it seems they expect VET’s price to keep falling through December.
CoinCodex echoes a similar sentiment, predicting a potential fall to $0.01980 for VET by December 7, 2023, reflecting an 8.4% drop from its current value. But hey, they’re hopeful for a bounce-back later in the month.
Changelly has a bit of a brighter take, foreseeing VET trading between $0.02220 and $0.02410 for most of December, suggesting a more optimistic outlook compared to the previous predictions.
VET fans and investors are looking ahead optimistically, eyeing some traction for the project in the future. VeChain’s got some green initiatives and partnerships, including hooking up with big players like Amazon. With the rising concerns about climate change, projects like VET focusing on these issues could see a surge in popularity soon.
