VeChain Reaches ATH As Reddit Subscribers Moon

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VeChain, the small altcoin focused on supply chains and product authentication, has been on a tear in 2021. When we discussed it back in December, there was a clear warning by two renowned technical analysts that the coin could soon surge.

It has since touched all-time-high upon new all-time-high, whilst seeing it’s discussion forum on Reddit explode.

December to January

Already in December 2020, two technical analysts and chatter on social media indicated that VeChain might be a good bet in 2021. At that time the price of VET was trading at $0,019.

By the beginning of January, that breakout had been confirmed and VeChain reached a new all-time-high (after the rebrand to VET, of course).

$VET

I’m seeing hardly any selling volume. It’s almost as if more investors are coming to terms with just how undervalued #VeChain actually is.#VeFam #VTHO #VET #AltSeason

— Saleh Ahmed Ⓥ (@SalehAhmedd_) February 13, 2021

As January unfolded, the coin got discussed on Clubhouse as well, the invite-only social media app that rose to worldwide fame when Elon Musk interrogated Robinhood CEO Vlad Tenev on it about the GameStop WallStreetbets saga.

$VET isn’t done.

Goodnight CT. 😴#VET #VeChain #VeFam pic.twitter.com/CYhJuSSPSQ

— Justin Bennett (@JustinBennettFX) February 13, 2021

By now, VeChain is trading in the 0,050 range and analysts are wondering where support will be found when the inevitable retracement of the crypto market will occur.

The all time-high of $0.06044 was reached a couple of hours ago.

Reddit subscriber explosion

VeChain, which already had an army of loyal fans on Twitter, is now also seeing rising support on Reddit, which is proving itself as a new breeding ground for crypto fans. Its subreddit forum r/Vechain has just passed 80,000 subscribers. As it branches out across social media, we wonder if the price will follow it up even further?