DigitalBits (XDB) has garnered significant attention this week, witnessing a remarkable price increase of over 90% in the past 7 days.
The cryptocurrency community has been buzzing with discussions surrounding this token. Some enthusiasts are urging others to accumulate $XDB, hinting at a potential significant upward movement in the coming month. The term “god candle” has been thrown around, suggesting a substantial bullish trend.
A part of the community has been speculating about the reasons behind the actions of big players in the $XDB market. There have been talks about transparency issues leading to some significant players exiting the market. Questions are arising about uncontrollable wallets, the identities of sellers, and the reasons behind the increase in circulating supply (CS). However, the community is hopeful that answers will be provided in the upcoming month.
Others have expressed their renewed interest in $XDB, noting that the team behind the token seems rejuvenated. There’s a sense of anticipation as many believe that significant updates are on the horizon, especially with September being highlighted as a month to watch out for.
Source: CoinStats
In terms of performance, $XDB has been showing promising signs. Some traders have pointed out that the token has surged by 160% and shows no signs of slowing down. This bullish trend was further solidified when it was revealed that 23,000,000 tokens were burned from the supply, leading to a retest after a breakout from a falling wedge pattern.
DigitalBits recently achieved a notable milestone by closing a candle above $0.0006505 support level on the daily time frame. This significant move indicates a shift in the bullish trend that the currency had been experiencing for an extended period. In fact, our optimistic outlook remains intact, with our projected resistance levels are set at $0.0001 and $0.00015 respectively.
What is XDB coin?
DigitalBits (XDB) stands as a pioneering protocol layer blockchain, often referred to as the “blockchain for brands.” Designed to facilitate swift and cost-effective transfers of consumer digital assets, it encompasses branded currencies, non-fungible tokens (NFTs), stablecoins, and beyond.
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Show more +Priding itself on a decentralized, open-source, and user-friendly infrastructure, DigitalBits operates through a network of interconnected “DigitalBits cores.” These cores, akin to blockchain nodes, are managed by various individuals and entities globally. The platform empowers users to craft payment-related tools and gadgets. By seamlessly integrating with the app store, users can launch their digital assets on the DigitalBits network. This tokenization process proves instrumental in enhancing brand engagement with audiences.
At its core, DigitalBits aims to propel its project into the mainstream. It does so by ensuring digital asset liquidity and harmonizing with pre-existing user applications. Through its innovative transaction and trading layer, DigitalBits streamlines the tokenization process, making the point economy more accessible and efficient.
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