DigiByte Breakout Analysis – DGB Pumps +43% in a Single Day

DigiByte DGB just pumped up to +43% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at DGB, price analysis, and possible reasons for the recent breakout.

What is DigiByte?

DigiByte (DGB) is an open-source blockchain and asset creation platform. Development began in October 2013 and the genesis block of its DGB token was mined in January 2014 as a fork of Bitcoin. A longstanding public blockchain and cryptocurrency, DigiByte uses five different algorithms to improve security, and originally aimed to improve on the Bitcoin blockchain’s security, capacity, and transaction speed.

DigiByte Quick Stats

Global rank:51
Market cap:$533,221,821 AUD
Current price:$0.0379 AUD
All time high price:$0.1880 AUD
1 day:+43.25%
7 day:+61.39%
1 year:+416.71%

DigiByte Price Analysis

At the time of writing, DGB is ranked 51st cryptocurrency globally and the current price is $0.0379 AUD. This is a +61.39% increase since 21st December 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 4-hour candle chart, DGB did a strong breakout from the falling wedge pattern at $0.0285 AUD price levels & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, DGB looks well-positioned to hit the next high price levels.


“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”

What do the technical indicators say?

The DigiByte TradingView indicators (on the 1 day) mainly indicate DGB as a buy, except the Oscillators which indicate DGB as a neutral.

So Why did DGB Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying DGB for the next Altcoins rally & it could also be contributed to some of the recent news from Top DigiByte Influencers.

Recent DGB News & Events:

Where to Buy or Trade DGB?

DigiByte has the highest liquidity on Binance Exchange so that would help for trading DGB/BTC or DGB/USDT pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

Malik Junaid

Malik Junaid

Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.

You may also like