DigiByte (DGB) has surged over the last 24 hours in what appears to be a decisive bullish breakout. The coin has also been rising over the past month and has reclaimed a lot of losses seen this year. But how much momentum does it actually have? More details are below but first, here are some important points:
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DGB is up around 90% over the last 30 days and over 100% in 14 days.
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The coin had managed to post 30% gains in 24-hour intraday trading.
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There however remains a serious risk of a sell-off
Data Source: Tradingview
DigiByte (DGB) – Analysis of this uptrend
For the most part of 2022, DigiByte remained largely on a downtrend with a few bursts upwards here and there. But in the last 14 days, it seems the coin has just shot up, gaining nearly 90%. DGD is now testing $0.4. The last time it did this was in June last year.
The $0.4 mark will be a decisive resistance level. We expect investors to start locking in profits at around that price and as such, it is highly unlikely that DGB will cross over. Also, looking at the 3-day chart, the coin is poised for a significant pullback.
While this may not happen in a few days, overall, we expect DGB to be firmly rejected at $0.4 and will firmly fall towards $0.28 in the near term. This will be a downswing of more than 30%.
Is DigiByte (DGT) worth buying now?
The momentum that DGB has built over the last 14 days is about to slow. The coin is currently at $0.36. We believe the upside based on the chart is capped at $0.4. It wouldn’t, therefore, make any sense to buy now.
However, please watch the rejection at $0.4. DGB is likely to fall back by at least 30% to around $0.28. This would be the best price to enter once more.
DigiByte (DGB), like many assets in the market, has seen some strength in the last few days. However, as a small microcap coin, there is still a lot of potential for further growth. But what exactly does the future hold for DGB? Analysis to follow next but here are some highlights first:
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DigiByte (DGB) has surged quite impressively over the last 5 days or so in line with broader sentiment in the market.
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However, at press time, the coin had lost around 5%, trading at $0.02486
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DigiByte (DGB) is expected to rebound and post gains this year with conservative estimates putting it at $0.08.
Data Source: Tradingview.com
The future DigiByte (DGB) – Analysis
Despite rallying over the last few days, DigiByte (DGB) has not yet recovered from the slump in January. It has still lost 30% of its value this year and continues to trade way low compared to its ATH.
The coin has however recovered from its 2022 lows of around $0.015 and is consolidating the price action above the $0.02 mark. In the short term, we expect some volatility on DigiByte (DGB) but the general upward trend will continue.
From a long-term perspective, analysts expect this coin to grow by nearly 4 times this year, hitting $0.08 in the process. This is of course a conservative estimate. DigiByte (DGB) could still surge further, especially if sentiment in the market remains positive.
Why you should buy DigiByte (DGB)
As a microcap, DigiByte (DGB) has a lot of growth potential. In fact, at the time of writing, the coin had a market cap of around $320 million.
Also, the chain offers several cutting-edge technologies that make it more competitive with other blockchain networks. Its DigiAsset platform in particular is a massive project. So, when you look at these fundamentals, there is no doubt DigiByte (DGB) is a decent coin to hold for the long term.
Best Digibyte Wallets: https://www.coinbureau.com/analysis/best-digibyte-wallets/
Interview with Josiah Spackman: https://www.coinbureau.com/review/digibyte-exclusive-interview-ambassador/
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BTC Tipjar 
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Time Stamps
0:54 Introduction
2:03 Applications Layer
2:58 DigiAssets Layer
2:57 Digital Assets Layer
3:35 Core Protocol Layer
4:19 Digispeed & Transaction Throughput
5:49 Decentralised Blockchain & Mining
7:45 Token Economics & Founding
9:00 Digibyte Team & Community
10:18 DGB Markets & Storage
11:13 Conclusion
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Helpful Links
► Website: https://digibyte.io/
► Wiki: https://www.dgbwiki.com/
► GitHub: https://github.com/digibyte/
► DGB Awareness Team: https://www.dgbat.org/
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Socials
► YouTube: https://www.youtube.com/user/DigiByteCoin
► Twitter: https://twitter.com/DigiByteCoin
► Telegram Alerts: https://t.me/DGBalerts
► Reddit: https://www.reddit.com/r/Digibyte/
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Project Overview
Digibyte is an OG blockchain that was launched back in 2014.
Digibyte wants to give users the ability to create digital assets on its blockchain. A way for them to store these assets in an immutable and decentralized manner which can be sent instantly across the world.
Technology
The first layer of the Digibyte blockchain, the Applications layer, is the top layer. These Digital Assets can be created using the DigiAssets protocol on top of Digibyte. Users can also create smart contracts in the Applications layer.
The second piece of the Digibyte blockchain is the Digital Asset Layer which is the middle layer.
Any unit on the Digibyte blockchain that holds value cannot be duplicated, hacked, or counterfeited. Digibytes are used as a way to secure value for many types of things.
The last layer of Digibyte’s blockchain is the Core Protocol Layer. This bottom layer provides Operating and Communication procedures.
Block formation on Digibyte is quick thanks to the implementation of Segregated Witness or SegWit. This frees up space in the blocks which means that more transactions can be included within each block.
Thanks to SegWit and Digispeed, this TPS limit could soon double. This is due to the doubling of the digibyte block size every two years.
Digibyte uses Proof-of-Work as its consensus mechanism. However, unlike Bitcoin which uses a single mining algorithm – Digibyte uses five separate algorithms that are equally weighted.
The five algorithms used on the Digibyte blockchain are SHA256, Scrypt, Odocrypt, Skein, and Qubit.
Token
The project launched in January of 2014, with its genesis block occurring the 10th of that same month.
There was a minor 0.5% pre-mine of the coins back in 2014. This was fair and reasonable with 0.25% of the funds being given away to the public and the remaining funds been spent on development.
Digibyte is traded under the symbol DGB, which currently has nearly 13 billion in circulation. There is a max supply of 21 billion coins which is expected to be reached in 2035.
Team, Partners & Development
Jared Tate created the project and has been part of it’s full-time development since Digibyte went public in 2014.
The project does have a few other core developers, including Gary McKee, Yoshi Jager, and Noah Seidman.
Digibyte also has a really passionate community behind it.
Trading & Wallets
There is not that much volume of Digibyte currently. This is probably given the lack of support from some of the larger exchanges. You will, however, find it listed on exchanges such as CoinEX, Bittrex, KuCoin, and Bitfinex, just to name a few.
When it comes to volume on these exchanges its pretty limited. You could face order slippage on your larger block orders.
Given the popularity of Digibyte, you have quite a few options when it comes to storage. These include numerous hardware wallets and the like.
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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