This VeChain Token Skyrockets Within Hours: $0.01 Target in Sight but There’s a Catch

The price of VeThor Token (VTHO), the utility token underpinning the VeChainThor blockchain, has seen a significant spike over the last day. At press time, VTHO was trading at $0.006071, up 100.86% from 24 hours prior, as per data from Coingecko. Over the past week, the token’s value has skyrocketed 149.39%.

With a circulating supply of 73 billion VTHO, the token now holds a market capitalization of $434 million. This latest price movement comes on the heels of a YouTube video published by crypto analyst Crypto 4Light, in which he analyzes VTHO’s trend and potential.

Analyst Predicts Further VTHO Gains Despite Warning of Pullback

In his video “VTHO Price Prediction. VeThor following main plan,” Crypto 4Light referenced his VTHO predictions from a year ago, attributing the latest gains to recent market maker actions. He outlined key near-term resistance levels around 1 cent. He made this outline assuming the uptrend will continue to that point before retesting the long-term downtrend line.

However, Crypto 4Light advised cautious investing in VTHO, given the substantial short-term price appreciation and lack of demand around current levels. He stressed tracking metrics like exchange inflows and whale sell-offs to read the market’s pulse.

Besides hitting the 1 cent mark, the analyst noted potential further upside targets including retests of old resistance levels and filling the recent price gap. However, he warned a 40% or greater pullback is possible if selling pressure mounts near the current price zone. 

VeChain Official Account Comments on Growth

Amidst the ongoing price rally, the official VeChain X account commented: “2 million REAL WORLD daily transactions from a single smart contract! Our partnership with PwC & Walmart China is revolutionizing retail, marking one of the largest public blockchain use cases to date.”

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The tweet highlights the real-world adoption VeChain has achieved through its collaboration with accounting firm PwC and Chinese retail giant Walmart. With VeChain now powering Walmart’s food safety traceability platform across China, the foundation driving VTHO’s growth appears stronger than ever.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.