VELO USDT to $0.13

Long accumulation phase on the DAILY timeframe that could potentially break out.

• This recent formation of a descending wedge pattern suggests significant potential upside for VELO.
  
  
• The breakout from such a pattern is often a precursor to substantial price movements.
  
  
• Generally, the higher the timeframe of the breakout, the larger the potential move.
  

We observed a similar scenario with AERO. We entered AERO when it was in a similar pattern and caught the breakout that propelled it upward, allowing for significant gains.

Target: $0.13 (with higher potential beyond)

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Why $0.13?

VELO has a maximum supply of 1.8 billion tokens, with approximately 800 million currently in circulation. Presently, the market cap stands at $73 million, with a fully diluted valuation (FDV) of $166 million. The potential for VELO to reach $0.13 represents a realistic target that would elevate its market cap significantly.

Velodrome Finance is not just another DeFi project; it serves as a liquidity and yield generation platform that operates across multiple chains, including Optimism (OP) and others. It provides a robust ecosystem for decentralized finance, featuring ample liquidity and yield opportunities.

Similar to AERO, which also formed a descending wedge pattern, VELO could potentially break out and claim the 200 DEMA. If this occurs, it could take VELO toward $0.13, which aligns with the 0.236 Fibonacci level on the daily chart. Importantly, $0.13 is just the first target, and there is potential for further gains beyond this level as the project continues to develop and attract attention.

VELO's presence on Coinbase adds to its credibility and market visibility. As we look ahead, the substantial liquidity and yield generation opportunities available through VELO appear underappreciated, leading to the strong possibility of a 10x return in the future and perhaps even more.

Achieving the $0.13 target would position VELO more favorably in the market, increasing its market cap to a more substantial figure. This target reflects a conservative estimate, considering the project’s fundamentals and its current market conditions.

It’s important to recognize the inherent scarcity of VELO's token supply, which makes it susceptible to significant price pumps. While there is potential for VELO to surpass $0.13, this target serves as a prudent benchmark for the near term.

Velodrome Finance is committed to fostering a decentralized finance ecosystem, providing infrastructure that supports liquidity and yield generation for various applications. It aims to redefine how users interact with DeFi, making it a noteworthy project to keep on your radar.

VELO has been a key focus of mine for some time, and I’m excited to share my insights as we monitor its potential journey toward $0.13 and beyond.

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