Dogecoin

Million

<p class="p2"><a href="https://bitcoinist.com/dogecoin-0-11-doge-rally/" rel="nofollow">Dogecoin began a recovery</a> with the rest of the crypto market in October and by December, <a href="https://bitcoinist.com/dogecoin-retail-buyers-doge-sellers/" rel="nofollow">the altcoin’s price</a> would rise to a local peak of $0.107. Amid this recovery, <a href="https://bitcoinist.com/dogecoin-open-interest-6-month/" rel="nofollow">DOGE</a> miners have been selling off a significant portion of their holdings, which could explain the decline in the asset’s price earlier in the week.</p> 
<h2 class="p2" id="dogecoin-miners-sell-25-million-worth-of-tokens">Dogecoin Miners Sell $25 Million Worth Of Tokens</h2> 
<p class="p2">Dogecoin miners are some of the largest <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-sell-signal-analyst-predicts-targets/">holders of DOGE</a> with their holdings running into the billions. So any significant activity from them in one direction or the other can often be a major factor in where the price goes next. This time around, their activities have learned on the more bearish side and have negatively affected the DOGE price in the process.</p> 
<p class="p2">According to the on-chain crypto data tracking platform <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=mining&amp;chart=minerReserves" rel="nofollow">IntoTheBlock</a>, Dogecoin miners have been selling into every pump in the last couple of weeks. On November 24, the total combined reserves of <a href="https://bitcoinist.com/dogecoin-ultimate-meme-coin/" rel="nofollow">DOGE</a> miners had climbed to 4.67 billion <a href="https://www.newsbtc.com/news/dogecoin-price-rallies-to-4-month-highs-can-bulls-take-it-above-0-3/">DOGE</a>. However, by the second week of December, this figure has dropped by a few hundred million.</p> 
<p class="p2">Over the last month, the reserves have been on a slow decline, usually on a daily basis. But this decline adds up when zoomed out to look at the big picture. By December 12, Dogecoin miners held 4.4 billion <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-price-pump-to-0-7/">DOGE</a> in their balances, meaning they had sold over 240 million tokens in the space of three weeks.</p> 
<p class="p2">Taking an average price of DOGE over the last few weeks, the total amount of <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-0-1-doge-price-rally/">DOGE</a> sold by these mines comes out to around $25 million. This figure would explain the mounting sell pressure that <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-price-pump-to-0-7/">the altcoin</a> had been acting which eventually led to a brief decline below $0.091.</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/oPo4jDLr/" alt="Dogecoin price chart from Tradingview.com" width="3266" height="1530"></p> 
<h2 class="p2" id="doge-price-recovery-in-trouble">DOGE Price Recovery In Trouble?</h2> 
<p class="p2">After the dip earlier in the week, the <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-price-pump-to-0-7/">Dogecoin price</a> has begun to recover as of Thursday. This recovery pushed the price above $0.097 which is a welcome development for investors. But there is still the speculation of more sell pressure coming from <a href="https://bitcoinist.com/dogecoin-retail-buyers-doge-sellers/" rel="nofollow">DOGE</a> miners.</p> 
<p class="p2">However, there seems to be a change in sentiment among these miners whose holdings have begun to rise once more. Between, December 12 and 13, their holdings went from 4.4 billion to 4.41 billion. A small recovery, but a welcome change.</p> 
<p class="p2">Dogecoin <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=mining&amp;chart=minerNetflows" rel="nofollow">miner net flows</a> are also starting to turn positive after two days of negative net flows totaling over 80 million DOGE. Net flows in this case is the difference between the total amount of inflows and the total amount of outflows from the miners’ wallets. On December 13, the miner’s net flow was 7.09 million <a href="https://www.newsbtc.com/meme-coin/solana-meme-coin-dogecoin/">DOGE</a>. Still low but a stark contrast to the -43.33 million recorded on December 12.</p>

Dogecoin Miners Dump 240 Million Tokens, Can DOGE Price Still Recover To $0.2?

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