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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.
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.
