Title: The stellar kinematics of the Phoenix dwarf galaxy Abstract: The Phoenix dwarf galaxy is the nearest and most typical representative of the class of the so-called ``transition'' dwarf galaxies - i.e. dwarfs that show traits of dwarf spheroidal and irregular galaxies. Phoenix shows low-level recent star formation on top of a predominantly old and intermediate-age population (e.g., Hidalgo et al. 2009). Most interestingly, a small cloud of neutral gas seems to be physically associated to the stellar body (e.g., Young et al. 2007). To investigate the evolution of this paradigm dwarf galaxy, we have obtained medium- and high-resolution spectroscopy of more than a hundred member stars using FORS2, FLAMES and UVES at the ESO VLT. We present here precise velocity measurements from high-resolution spectroscopy allowing us to study the stellar kinematics and estimate the internal velocity dispersion and dark matter content of Phoenix. Our new results better constrain the physical and morphological evolution of this intriguing galaxy.