DigiByte (DGB) Price Prediction and Analysis in February 2021
February 2021 could be a good month for altcoins. Bitcoin has been ranging, and analysts believe that a new alt season could be on the way. If you are planning to invest in cryptocurrencies, then you are in the right place. We provide relevant information to help you decide on which one to invest in. This article outlines DigiByte price prediction and analysis in February 2021.
DigiByte (DGB) Overview
DigiByte is a Bitcoin fork that now serves as an open-source blockchain for asset creation. The founder Jared Tate and his team had a goal to improve Bitcoin’s security, transaction speed, and capacity. DigiByte is focused on security, with five different algorithms for securing the network.
While DGB is the native cryptocurrency of the DigiByte blockchain, there is a second offering known as DigiAssets, which also has DGB as its native token. DigiAssets is the network that developers use to launch new digital assets, dapps, and smart contracts. Like Bitcoin, the DigiByte network still uses the Proof-of-Work algorithm for transaction verification.
DGD has a capped supply of 21 billion tokens, a small percentage of which was premined and used to develop the network. There are currently 14,007,873,612 of them in supply, with a market cap of $479,450,092. One DGB now trades at $0.03430, and $46,948,148 worth of it has been traded in the last 24 hours.
DigiByte (DGB) Price Prediction: Analysis
DigiByte is one of the cryptocurrencies that have been trending upwards this year, although it always comes down. Since the start of January, the DGB price has gone above $0.03 four times and got to its highest price so far for the year $0.033392 on 29 January. The second-highest price for the year was reached on 3 February after the price went as low as $0.027425 on 31 January.
DGB has been in an upward trend against the US Dollar since the end of January, although the trade volume is not so high. The price has also risen consistently, as shown by the Moving Averages. The 20 MA remains on top of the 50, which also remains on top of the 100. The 50MA is, however, closing in on the 20, and a death cross may be lurking around if the upward momentum is not strong enough to push the price higher.
As the RSI shows, sellers are currently in control, and the RSI dips downward. Although the dip is still early on and more selling pressure may be coming, buyers may need to step in to save the situation, or a complete flip in the market direction may be imminent.
For those trading DGB, Walletinvestor has calculated key support and resistance levels for you to make use of in your trading decisions as follows:
- Resistance Level (R3): 0.0367;
- Resistance Level (R2): 0.0351;
- Resistance Level (R1): 0.0339;
- Pivot Point: 0.0322;
- Support Level (S1): 0.03098;
- Support Level (S2): 0.0293;
- Support Level (S3): 0.0281.
There have been no recent developments on DigiByte.
DigiByte (DGB) Price Prediction: Market Opinion for February 2021
DGB price prediction is complete with performance opinions from some top market prediction websites. The following are the DGB price predictions for February 2021, which should give you an idea of where the price is headed for the month.
Walletinvestor gives a prediction for DigiByte price for the next 14 days. The website forecasts that the lowest price during this period will be $0.0269, while the highest expected price is $0.0349. Bellow are the daily price predictions for the next two weeks:
|Date||Price||Min Price||Max Price|
Cryptoground is quite bearish on DGB. They predict that the price will not exceed $0.0078 within the next month.
This website is more bullish on DigiByte. According to its DigiByte price prediction, the price will reach an average of $0.05828242, representing a gain of 67.55.
Ripple (XRP) Price Prediction: Verdict
In conclusion, DigiByte price prediction suggests that there is generally a bullish trend at the moment. Several other analysis websites seem to think the same thing. However, investing in it should still be poached with caution, and independent research and investment decisions should be made.
Featured image: cryptocoinspy.com