Digibet Token Price: What's Happening?
The Digibet token is an ERC-20 token operating on the Binance Smart Chain (BSC). It is listed on Latoken, PancakeSwap, and Hotbit. The recent mild recovery in the crypto market is being stalled by various factors, including lawsuits filed by regulators against exchanges. It could take a lot more than the token's inherent fundamentals to see a recovery in the Digibet token price.
Digibet: The journey so far
This token debuted on the Nomics exchange with a price of $0.012. That is the highest the crypto has ever attained. After closing lower on the day, the Digibet token price recorded a significant slump. This development may surprise many, especially as it started well before the crypto winter commenced. For a token belonging to a project that ought to have taken the online gaming industry by storm, the performance of Digibet has disappointed many.
So what happened with Digibet? Why is the token price where it is today? Here are some reasons.
• Despite the brief recovery of the crypto market, it remains well off its 2020/2021 highs.
• Rising inflation continues to pressure the US Federal Reserve to raise interest rates. This scenario makes US-denominated assets (such as Tether stablecoin or USDT) more attractive at the expense of riskier altcoins. Digibet continues to suffer from this effect.
Digibet token price prediction for 2023
Digibet’s price currently rests at $0.000000001, which is more than 95% below its listing high. In terms of fundamentals, the future of gaming tokens looks bright, as the global blockchain gaming market is expected to grow from $4.6 billion in 2022 to $104.5 billion in 2028, representing a CAGR of 68.2%.
This is according to data from Reportlinker detailing its six-year outlook for the global blockchain gaming industry.
Suppose the fundamentals are anything to go by, and Digibet can tap into this potential. In that case, we could see some price appreciation, making this token a good investment at current levels.
However, there is always a possibility that this may not happen, and Digibet may find itself joining the list of altcoins that had great potential but sadly lost their way.
Author: Eno Eteng
Eno is a certified financial technician and member of the UK Society of Technical Analysts. He loves to trade and write about cryptos, FX and CFDs. Since 2009, he has been a consultant for several companies in the financial market space. His work can be seen on several forex and crypto-related blogs and trading educational websites.