Dogecoin began a recovery with the rest of the crypto market in October and by December, the altcoin’s 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’s price earlier in the week.

Dogecoin은 10월에 나머지 암호화폐 시장에서 회복을 시작했으며 12월에는 알트코인의 가격이 $0.107의 현지 최고치까지 상승할 것입니다. 이러한 회복 속에서 DOGE 채굴자들은 보유 자산의 상당 부분을 매각해 왔으며, 이는 이번 주 초 자산 가격 하락을 설명할 수 있습니다.

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.

Dogecoin 채굴자는 수십억 달러에 달하는 DOGE의 최대 보유자 중 일부입니다. 따라서 한 방향 또는 다른 방향으로의 중요한 활동은 종종 가격이 다음에 어디로 가는지에 대한 주요 요인이 될 수 있습니다. 이번에는 이들의 활동이 더욱 약세적인 측면을 알게 되었고 그 과정에서 DOGE 가격에 부정적인 영향을 미쳤습니다.

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.

지난 몇 주 동안 DOGE의 평균 가격을 고려하면, 이 광산에서 판매된 DOGE의 총 금액은 약 2,500만 달러에 이릅니다. 이 수치는 알트코인이 작용하여 결국 0.091달러 아래로 잠시 하락하게 된 매도 압력이 커지는 것을 설명합니다.

DOGE Price Recovery In Trouble?

DOGE 가격 회복에 문제가 있습니까?

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.

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’ 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.

Dogecoin 채굴기 순 흐름도 이틀 동안 총 8천만 DOGE가 넘는 마이너스 순 흐름이 있은 후 긍정적으로 바뀌기 시작했습니다. 이 경우 순 흐름은 총 유입량과 채굴자 지갑의 총 유출량의 차이입니다. 12월 13일, 채굴자의 순 흐름은 709만 DOGE였습니다. 여전히 낮지만 12월 12일에 기록된 -4,333만과 비교하면 극명한 대조를 이룹니다.