The supply of Dogecoin has been consistently increasing over the years since there is no cap on the number of tokens that can be mined. This unlimited supply often hampers the digital currency’s performance, as the continuous influx of tokens generally overwhelms demand. Currently, even more tokens are set to enter circulation, further inflating the Dogecoin supply.
Upcoming Dogecoin Unlocks in a Week
Journalist Wu Blockchain recently highlighted on X about significant token unlocks on the horizon. Among these, Dogecoin is noted for a substantial number of tokens that will be released over the next week.
The report indicates that approximately 96.52 million Dogecoin tokens are anticipated to be unlocked during this week, beginning on Monday. As per Token Unlocks data, around $3.41 million worth of DOGE will be unlocked each day, which translates to nearly 14 million tokens becoming available daily.
By the conclusion of this unlocking process, the Dogecoin supply is expected to increase by about 0.06%. While this percentage might seem minimal in light of the already extensive DOGE supply, it could still influence the price of the meme coin. With a total of $22.75 million entering circulation, this influx might create selling pressure, leading to a potential short-term decline in Dogecoin’s price.
Nonetheless, Dogecoin’s price managed to absorb the initial wave of unlocks and remains strong, with support holding above $0.22. If buying interest remains robust, the market could soak up the DOGE token releases without any significant impact on its price.
Other Notable Token Unlocks
In addition to Dogecoin’s linear unlocks, several other tokens are experiencing significant cliff or linear unlocks. Tokens such as Aptos, Avalanche, and Arbitrum are seeing unlocks totaling over $30 million in value, executed on a cliff basis. Furthermore, MELANIA tokens worth $10.30 million are also set to be released, placing additional pressure on the TRUMP-associated token that has struggled since launch.
Regarding linear unlocks, Solana leads the charge with 455,770 SOL tokens, valued at $81.84 million, being released over a seven-day period. Following that, Worldcoin will unlock 37.23 million tokens valued at $48.02 million, and Celeste has 6.96 million tokens worth $22.48 million unlocking third. Dogecoin ranks closely behind this, with its $22.75 million in upcoming unlocks.
