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According to a recent analysis by CoinCodex, a prominent on-chain metrics and price prediction firm, VeChain (VET) faces a bearish outlook for February 2024. The forecast suggests a potential dip in the charts, with VeChain possibly dropping to the $0.26 level during the initial days of the month.




This anticipated downturn reflects a decrease of approximately 6.5% from the current price of $0.27. As a result, investors are cautioned about potential losses, and it is advisable to exercise caution when considering entry positions in VeChain at this time. The forecast emphasizes a higher likelihood of VeChain moving south rather than north throughout February 2024. For insights into a realistic price prediction regarding when VeChain might reclaim its previous all-time high of $0.28, readers can explore further. It has been nearly three years since VeChain struggled to surpass its ATH and achieve new highs in the market.



As of the latest update, VeChain is trading at $0.027, reflecting a nearly 3% decline in the 24-hour day trade. Notably, VET has experienced a significant drop of almost 91% from its peak value of $0.28, recorded in April 2021.


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