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The cryptocurrency market closely monitors token unlock events. According to the Token Unlocks platform, next week will see $223.80 million worth of token unlocks. Tomorrow, the Memeland-backed Meme Coin (MEME) unlock is an event to watch closely.
Final Hours for Meme Coin Unlock
According to data on the Token Unlocks platform, next week will witness $223.80 million in token unlocks in the cryptocurrency market, with the largest event being a $127.10 million unlock at the Web3 initiative Memeland-backed Meme Coin (MEME) front.
Tomorrow (May 3rd) at 11:00 AM, the event will unlock a quantity of tokens equivalent to 31.38% of MEME’s total supply. As the event approaches, investors are eagerly waiting, and at the time of writing, MEME token was trading at $0.024. The MEME token unlock event is noted as the most valuable token unlock of the week. Crypto Traders Are Rushing to This App – Here’s Why You Should Too
Meme Coin Chart Analysis
The first notable development in the daily MEME chart is the token entering a consolidation phase since its launch. The touch on the support line, following a significant loss of momentum from its last ATH, is of great importance. The $127 million token unlock could lead to significant selling pressure on the price.
The most important support levels to watch on the daily MEME chart are; $0.02303, $0.02107, and $0.01908 respectively. Particularly, a daily bar close below the prominent consolidation level of $0.02107 could lead to a loss of momentum in MEME’s price.
The most important resistance levels to monitor on the MEME chart are; $0.02606, $0.03102, and $0.03431 respectively. Especially, a daily bar close above the $0.02606 level, intersecting with the EMA 9 (blue line), could accelerate MEME’s price momentum.
