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:
DigiByte (DGB) has surged quite impressively over the last 5 days or so in line with broader sentiment in the market.
However, at press time, the coin had lost around 5%, trading at $0.02486
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.