Dogecoin (DOGE) miners have been making large withdrawals, causing the price of DOGE to consolidate at $0.06. The miners have sold 320 million coins, amounting to approximately $19.2 million. However, speculative traders have been investing in DOGE derivatives, which may help prevent a major price breakdown. The article suggests that with the miners’ reserves at an all-time low, their influence on price action could diminish. The price of DOGE is expected to consolidate around $0.06, with miners and speculative traders taking opposing positions. It is important to note that this analysis is for informational purposes only and should not be considered financial advice.
AI Sentiment: Negative