It seems the DigixDAO price is not done just yet. Whereas its bullish momentum began forming a few days ago, most people assume a price retrace would set in soon enough. So far, that has not happened in the slightest, as the DigixDAO price simply keeps rising to new heights in quick succession. It is a remarkable trend, yet it shows good money can be made in cryptocurrency when the going gets tough.
DigixDAO Price Rise Continues Unabated
It is quite remarkable to see how far the DigixDAO price has come over the past few days. Although most people see a lot of value for this project and its approach, there are others who simply see this token as a way to get rich quick. It seems both parties are getting exactly what they want, as the DigixDAO price simply keeps rising day after day. In the past week alone, we have seen some astronomical growth for DGD, and it seems the momentum is not over just yet.
More specifically, one week ago today the DigixDAO was struggling to hold on to the $320 support level. It seems that the effort was more than successful, a sit eventually resulted in a price increase to nearly $400. After a brief retrace due to profit taking and whatnot, the climb to $425 was completed successfully. For holders since the $320 level, this resulted in a neat $100 profit per DGD in under four days. There are worse ways to make good money in this world, that much is evident.
Even so, things did not end there as far as the DigixDAO is concerned. Fast forward to today, and that same DGD is worth $582.74 at current prices. Compared to one week ago, it is a near 90% increase in value for just owning a token and not spending it. While it still remains a bit unclear why this momentum is solidifying now, original ICO investors won’t mind this current trend at all, for obvious reasons.
With $116.88m in 24-hour trading volume, things are slowly picking up for DigixDAO. Although this is still relatively low compared to some top altcoins, this current volume is more than enough to keep the momentum going. One also has to keep in mind there are only 2 million DGD in active circulation as of right now. With these rising prices, few people will part with their tokens, as they want to maximize profits at all times.
As of right now, Binance remains the biggest exchange in terms of DigixDAO trading volume. Their BTC and ETH pairs still combine for over 85% of all DGD trades right now, as Huobi doesn’t even come close in terms of volume. OKEx remains in fifth in sixth place right now, even though it seems their BTC and USDT pairs are a lot more popular compared to Ethereum right now. A remarkable trend to keep an eye on moving forward.
For the time being, it remains to be seen how long this current 40.12% increase in DigixDAO price will last. Such major gains often meet a lot of resistance, and it seems surpassing $600 will prove to be a bit of a challenge. Especially remaining above the $550 level may be virtually impossible for people effectively cash out their profits accordingly. Always trade with caution and take profits whenever possible, as these markets tend to turn around pretty quickly.