Does DigiByte (DGB) bull run have anymore juice left in its tank?

DigiByte just can’t seem to stop growing at the moment. Ever since it hit a quarterly low of $0,018340 USD at the end of June, it has been on a parabolic recovery trajectory. The rise has been continual and the coin went up to its current levels of $0,046 USD, while breaking 700 satoshis at the moment. DigiByte is currently boasting a market cap of $476,673,583 USD and is looking to use its momentum to overtake Aeternity as the 31st most valuable cryptocurrency on the market.

The coins rise seems poised to continue as it will be looking to break the quarterly DGB/USD high of $0,048 USD, with the DGB/BTC high of 522 satoshis already being left in the dust. Some people are cautious, as crypto veteran @JoshMcGruff writes on twitter:

“Enjoying that sweet $DGB ride? We’ve entered overbought on the 1 Day and showing the next level of resistance via the VPVR at about 715ish. Impressively enough, the CMF has never been this high on the 1D in the history of the coin. If you’re in it, I’d start securing profits.”

There is a sense that a correction is in order soon before DGB decides to make its next move, whether that move turns out to be a continuation of the bull run or another drop downwards. As the mentioned analyst notices, the sell books are “getting thick” so potential new investors/holders should be mindful of that.

While the entire market seemed to chug along, looking to break through into a new bull run on Bitcoin’s back, DigiByte managed to grow more than 50% since the turn of the month and more than double its value since the previously mentioned quarterly low. Some attribute this rise to coin’s official announcement of UTRUST integration. UTRUST is a payment platform which focuses on cryptocurrencies and it previously initiated a similar run for PundiX (NXPS) when it added this token to its lineup of accepted payment options. DigiByte marketing manager, Rudy Bouwman had this to say about the UTRUST integration:

“We’re excited by the prospect of working with UTRUST and getting DigiByte to be your payment processing solution; this would allow us to grow organically and attract more interest as an open source solution. We hope not only to create a robust decentralized public blockchain but to change the world for the better.”

In other important updates, DGB was confirmed as the next coin to become a part of DX.Exchange trading portfolio. DX.Exchange team held a telegram poll on what its next addition should be. The poll ended up with two winners, DGB and Verge (XVG).

Similarly, DGB was recently added to Coinome exchange as one of the trading pairs against Ripple (XRP), alongside Litecoin (LTC) and Bitcoin Cash (BCH). These additions have definitely exposed the coin to significant amounts of liquidity and likely contributed to DigiByte’s latest bull run.

As things stand, DigiByte is slowly regaining the popularity it lost during the past 6 months of bearish market action. We will have to wait and see if the buyers have any more juice left in their wallets to drive the price even further upwards.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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