$DOGE
**Dogecoin Faces Potential Selloff as Miners Offload 65M DOGE** 🚨🚨🚨
In the last 24 hours, Dogecoin (DOGE) miners have sold a considerable 65 million DOGE, raising concerns about potential price volatility. After a recent recovery from a low of $0.1465, DOGE is now testing new resistance levels.
On-chain analyst Ali Martinez highlighted the implications of this mass liquidation by miners, who typically sell their rewards from transaction validation. This offloading could increase the circulating supply on exchanges, creating selling pressure if demand does not match this surge.
Market sentiment plays a crucial role; many traders may interpret this miner activity as a bearish signal, suggesting that miners foresee declining prices. While analysts warn of potential short-term fluctuations, a swift absorption of this offloaded DOGE by the market could signal bullish sentiment. The coming days will be pivotal for DOGE's price action as it navigates these developments.