Dogecoin miners boost reserves, fueling DOGE price rally speculation doge dogearmy dogecoin dogecommunity dogelonmars dogeusdt $doge
In the crypto realm, such developments often serve as potential indicators of an imminent price surge for the token. Per traditional wisdom, an accumulation of reserves is viewed optimistically, implying bullish sentiment. Conversely, a sell-off by miners is typically perceived as a bearish sign.
However, it is essential to consider the broader context surrounding these trends.Taking a closer look at the larger picture, it becomes apparent that the spike in Dogecoin miners' reserves follows an outflow of 60 million DOGE earlier this month. This suggests that, in July alone, approximately 10 million more DOGE flowed out of these addresses than entered them.
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