VeChain's nicely riding on rumours. Where's the stop?
VET hit it's local social volume high with almost 640 mentions:
VeChain (VET) is an ecosystem enhancing supply chain management. It allows participants to track the movement and provenance of products.
VET is not the only one on this market of course.
There's a number of active supply chain products visible in this watchlist compiled by @nemo. And it's quite active last month!
So what happened around VeChain?
Technically it's price went up 30% in a week on an anomalously increasing social volume:
News-wise VeChain is only mentioned in context of Chinese recent blockchain adoption efforts:
- How Will China Pursue Xi Jinping’s Blockchain Adoption Plan?
- VeChain pumps by 8.4% on strength of China connection
Standalone additional latest line:
- Binance US list's VET
Polarized quotations from chats:
And a few social telegram charts on VET:
Unique social volume may have some top preceding patterns visible:
Sentiment balance is negative and has not bottomed yet:
And finally a mathematical multiplication of two charts above gives this:
I put red vertical lines strictly at sentiment volume consumed bottoms.
And this makes me suggest:
VET has possibly not topped yet.
But it's very close.