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šØBig Dogecoin sell-off, miners offload 65 million DOGEšØ
According to analyst Ali Martinez's *on chain* data, Dogecoin miners have offloaded 65 million tokens, with the current DOGE price around US$0.17 in the last 48 hours. This price drop raises concerns that DOGE could fall further if the selling pressure continues.
Heavy selling by miners is usually caused by profitability concerns or price instability. Some analysts expect DOGE could fall below US$0.15, but there is optimism that the token could recover soon with an expected price surge.
Trader Tardigrade notes that after a correction phase, DOGE often experiences a significant price surge. If the positive trend continues, some analysts say DOGE could reach US$1 in the long run.
ByllifyX analysts believe DOGE could reach US$3 if more buyers step in. With Bitcoin trading slightly below US$85,000 per coin, volatility in the crypto market is increasing, which could affect other tokens like DOGE.
*Not Financial Advice. Do Your Own Research*
Image Source: Decrypt
