Joining the overall recovery in the cryptocurrency market, Dogecoin reached a local peak of $0.107 in December. However, the drop in the value of DOGE earlier this week was associated with significant selling by Dogecoin miners. These miners are among the largest holders of the cryptocurrency.
Dogecoin miners are reportedly actively selling their holdings during the price spike. As of November 24, total DOGE reserves were DOGE 4 billion 670 million, while on December 12, this figure dropped to DOGE 4 billion 400 million.
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