- Dogecoin is under pressure as a $14.69 million token unlock approaches, with prices hovering just above key support at $0.145.
- Dogecoin’s technical indicators suggest weakness, and a failure to hold current levels could trigger a drop toward $0.12.
Token Unlocks Loom Over DOGE and SOL
This week, the crypto market faces a significant shakeup as more than $250 million worth of tokens are set to unlock—led by heavyweights Dogecoin (DOGE) and Solana (SOL). According to data from Tokenomist and WuBlockchain, Solana will release approximately $61.83 million (465,770 SOL), while Dogecoin will unlock $14.69 million worth (95.89 million DOGE), putting both assets under bearish pressure.
Dogecoin Struggles Below Major Averages
Dogecoin currently hovers around $0.145, just above a critical support zone. Its technical setup isn’t inspiring confidence: the 50, 100, and 200-day EMAs all hover above the current price. While its RSI sits at an oversold 31—signaling potential for a short-term bounce—the looming unlock could flood the market with supply and accelerate a downward move. If DOGE slips below $0.145, the meme coin may retest $0.12, unless bulls can reclaim the $0.18 territory swiftly.
Solana Faces a Heavier Hit
SOL isn’t in much better shape. Trading at around $134, it’s already fallen below its 200 EMA and struggles to hold the $130 level. With an RSI in the mid-30s and momentum fading, the $61 million unlock scheduled this week poses serious downside risk. Without a recovery above $150–$155, SOL could spiral into the $120s, dragging broader market sentiment with it.
Market on Edge as Sentiment Weakens
Though token unlocks are typically known in advance and partially priced in, their impact can be magnified during times of weak price action and low confidence—exactly the scenario both Dogecoin and SOL now face. If current support levels collapse, both assets could experience swift declines fueled by rising supply and speculative panic.
Traders should brace for increased volatility and monitor volume closely. These unlocks might test the resilience of both projects—and provide entry points for bold investors eyeing rebounds once the dust settles.
