{"id":565546,"date":"2023-12-15T18:00:18","date_gmt":"2023-12-15T18:00:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=565546"},"modified":"2023-12-15T11:25:09","modified_gmt":"2023-12-15T11:25:09","slug":"dogecoin-miners-doge-price","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-miners-doge-price\/","title":{"rendered":"Dogecoin Miners Dump 240 Million Tokens, Can DOGE Price Still Recover To $0.2?"},"content":{"rendered":"

Dogecoin began a recovery<\/a> with the rest of the crypto market in October and by December, the altcoin\u2019s price<\/a> would rise to a local peak of $0.107. Amid this recovery, DOGE<\/a> miners have been selling off a significant portion of their holdings, which could explain the decline in the asset\u2019s price earlier in the week.<\/p>\n

Dogecoin Miners Sell $25 Million Worth Of Tokens<\/h2>\n

Dogecoin miners are some of the largest 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>\n

Related Reading: Crypto Analyst Who Predicted Bitcoin 2023 Bull Run Releases New Target<\/a><\/div>\n

According to the on-chain crypto data tracking platform IntoTheBlock<\/a>, Dogecoin miners have been selling into every pump in the last couple of weeks. On November 24, the total combined reserves of DOGE<\/a> miners had climbed to 4.67 billion DOGE<\/a>. However, by the second week of December, this figure has dropped by a few hundred million.<\/p>\n

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 DOGE<\/a> in their balances, meaning they had sold over 240 million tokens in the space of three weeks.<\/p>\n

Taking an average price of DOGE over the last few weeks, the total amount of DOGE<\/a> sold by these mines comes out to around $25 million. This figure would explain the mounting sell pressure that the altcoin<\/a> had been acting which eventually led to a brief decline below $0.091.<\/p>\n

\"Dogecoin<\/p>\n

DOGE price wobbles amid uncertainty | Source: DOGEUSD On Tradingview.com<\/a><\/pre>\n
DOGE Price Recovery In Trouble?<\/h2>\n
After the dip earlier in the week, the 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 DOGE<\/a> miners.<\/p>\n
Related Reading: XRP Bull Run Confirmed: Largest Bull Flag In Crypto History Just Formed<\/a><\/div>\n
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>\n
Dogecoin 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\u2019 wallets. On December 13, the miner’s net flow was 7.09 million DOGE<\/a>. Still low but a stark contrast to the -43.33 million recorded on December 12.<\/p>\n
Featured image from AMBCrypto, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogecoin began a recovery with the rest of the crypto market in October and by December, the altcoin\u2019s price would rise to a local peak of $0.107. Amid this recovery, DOGE miners have been selling off a significant portion of their holdings, which could explain the decline in the asset\u2019s price earlier in the week. Dogecoin Miners Sell $25 Million Worth Of Tokens Dogecoin miners are some of the largest holders of DOGE 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. Related Reading: Crypto Analyst Who Predicted Bitcoin 2023 Bull Run Releases New Target According to the on-chain crypto data tracking platform IntoTheBlock, Dogecoin miners have been selling into every pump in the last couple of weeks. On November 24, the total combined reserves of DOGE miners had climbed to 4.67 billion DOGE. However, by the second week of December, this figure has dropped by a few hundred million. 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 DOGE in their balances, meaning they had sold over 240 million tokens in the space of three weeks. Taking an average price of DOGE over the last few weeks, the total amount of DOGE sold by these mines comes out to around $25 million. This figure would explain the mounting sell pressure that the altcoin had been acting which eventually led to a brief decline below $0.091. DOGE price wobbles amid uncertainty | Source: DOGEUSD On Tradingview.com DOGE Price Recovery In Trouble? After the dip earlier in the week, the Dogecoin price 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 DOGE miners. Related Reading: XRP Bull Run Confirmed: Largest Bull Flag In Crypto History Just Formed 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. Dogecoin miner net flows 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\u2019 wallets. On December 13, the miner’s net flow was 7.09 million DOGE. Still low but a stark contrast to the -43.33 million recorded on December 12. Featured image from AMBCrypto, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":565548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,90880,7,90879,1803,1804,79599,79600],"class_list":["post-565546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-miners","tag-dogecoin","tag-dogecoin-miners","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Miners Dump 240 Million Tokens, Can DOGE Price Still Recover To $0.2?<\/title>\n<meta name=\"description\" content=\"Dogecoin began a recovery with the rest of the crypto market in October and the altcoin\u2019s price would rise to a local peak of $0.107.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Miners Dump 240 Million Tokens, Can DOGE Price Still Recover To $0.2?","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-miners-doge-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-miners-doge-price\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Dogecoin-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Dogecoin-1.jpeg?fit=1200%2C800"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge miners","dogecoin","dogecoin miners","dogecoin news","dogecoin price","dogeusd","dogeusdt"],"dateCreated":"2023-12-15T18:00:18Z","datePublished":"2023-12-15T18:00:18Z","dateModified":"2023-12-15T18:00:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Miners Dump 240 Million Tokens, Can DOGE Price Still Recover To $0.2?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-miners-doge-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-miners-doge-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Dogecoin-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Dogecoin-1.jpeg?fit=1200%2C800\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge miners\",\"dogecoin\",\"dogecoin miners\",\"dogecoin news\",\"dogecoin price\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2023-12-15T18:00:18Z\",\"datePublished\":\"2023-12-15T18:00:18Z\",\"dateModified\":\"2023-12-15T18:00:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Dogecoin-1.jpeg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/565546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=565546"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/565546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/565548"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=565546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=565546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=565546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}