VeChain’s VeBetterDAO Surges with Community Engagement and Voting Rewards

• VeChain’s VeBetterDAO gains traction in Japan, boosting community engagement and momentum amid a volatile market.
• Despite BTC fluctuations, VET shows resilience with analysts predicting a potential price surge to $1.5-$1.8.
• VeBetterDAO’s first voting rewards distributed 160,000 B3TR tokens to 411 stakers, tripling their tokens on average.

VeChain’s VeBetterDAO is gaining significant traction in Japan, according to CEO Sunny Lu. His recent post highlights the increased interest in this decentralized autonomous organization, emphasizing its growing presence and community engagement within the region. This development is a testament to VeChain’s momentum amidst a fluctuating crypto market.

VET’s Resilience Amid Market Fluctuations

Besides the growing traction of VeBetterDAO, EGRAG CRYPTO, a top analyst, noted that VET has been demonstrating resilience in the broader crypto market. Despite ongoing fluctuations in the price of Bitcoin (BTC), VeChain has managed to hold its ground.

Market analysts suggest that VET is currently in a corrective wave, with predictions of an upward trend. This potential “blowoff top” could see VET’s price surge to between $1.5 and $1.8.

Additionally, VeDelegate has successfully distributed the first round of voting rewards for VeBetterDAO, as noted by Collin Brown in his X post. A total of 160,000 B3TR tokens were awarded to 411 stakers who pooled 63,500 B3TR tokens. This distribution has led to participants nearly tripling their tokens on average this week, highlighting the initiative’s positive impact on the community.

Technical Analysis Points to Potential Breakout

Moreover, the technical analysis highlights that VeChain has formed a descending channel in its daily timeframe. This formation has broken the trendline in a lower timeframe, indicating a potential breakout. If VET successfully breaks out of this channel, it could potentially double its value in the coming days, testing the trendline area around $0.0300.

At press time, the current price of VeChain stands at $0.02503, with a trading volume of $68,943,717 in the last day. This shows an increase of 8.33% in price during the last 24 hours, though it has seen a 6.30% decline over the past week.

These developments come at a time when the broader crypto market is navigating various challenges. The positive momentum surrounding VeChain, particularly with initiatives like VeBetterDAO, showcases the project’s robust community engagement and potential for future growth.