Supply emission’s schedule is getting intense on meme coins, with some popular ones releasing over 5% of supply at once.
This week’s crypto token emission schedule is particularly packed with meme coin action. The heavy token unlock schedule will not spare the United States President’s official Trump Coin, releasing 1.52% of the total supply this week.
Besides, Dogecoin (DOGE) is also soaking up a large token inflow with 96.54 million tokens poured into the general crypto markets. In a stark contrast to TRUMP coin, Dogecoin’s (DOGE) weekly emission revolves around a small fraction of the total supply, just 0.06% in comparison to TRUMP coin’s 1.52%.
Are These Popular Meme Coins Taking a Big Hit?
If these meme coin unlocks are not matched with a surge in trading volume, price dips are natural. With Bitcoin’s (BTC) latest run back to $115K, the meme coin section grew to nearly $100 billion, but the volatile department saw a 4.20% drop back to $86 billion today.
Dogecoin’s (DOGE) trading volume stands out from the meme coin crowd with $3.5 billion shuffled in 24 hours, which could completely overshadow the bearish implications of this week’s token unlock. Meanwhile, the Official Trump coin dwells around a $207 million trading volume.
On top of that, the $110 million meme token unlock can hit the first lady’s signature crypto currency even harder than Donald’s. Trading at $0.19 and outside the TOP 400 by global market cap, Melania Meme (MELANIA) will witness a whopping 5.60% of supply released out in the open at once, what is known as the cliff unlock.
Aside from these three meme coins, ApeCoin (APE) is set to get rid of 15.60 APE tokens, counting up for 1.72% of all supply. Notably, the Bored Ape Yacht Club’s (BAYC) native chain released nearly 80% of all minted coins so far, using the token unlocks to develop their own ApeChain, a gaming-focused community-owned chain.
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