Brace for Impact: $369M Token Unlocks Set to Rock TAIKO and NEON Prices

This week, the crypto world is holding its breath as over $369 million in token unlocks are set to hit the market. TAIKO and NEON are feeling the heat the most, with a staggering 71% and 6.5% of their unlockable supply about to flood the market.

From June 2 to June 9, Taiko (TAIKO), Ethena (ENA), and Neon (NEON) are staring down the barrel of major cliff unlocks that could send their prices crashing. According to the latest data, TAIKO is set to unlock a whopping 81.55 million tokens—71.23% of its total unlock supply—valued at $47.4 million. Meanwhile, NEON isn't far behind, with 53.19 million tokens, or 6.48% of its unlock supply, worth $6.94 million, ready to hit the market.

Will TAIKO cliff unlock send its price back to ATL?

Taiko (TAIKO) is on the edge of a cliff, facing the largest token unlock in the next week, and the risk of a massive price drop is real. After trying to turn things around in late April and May, the momentum fizzled out faster than a cheap firework.

The price hit a lower high, then tanked, breaking through the local support around $0.70 like a hot knife through butter, dropping to $0.55 and falling back below the EMA 20. The RSI isn't doing TAIKO any favors either, sitting at a dismal 34 and pointing downward, screaming that the momentum is shot.

With two failed reversal attempts and a confirmed breakdown to lower levels, this unlock could send TAIKO crashing below the critical support at $0.48—its all-time low. That 16% nosedive on May 31, accompanied by a volume spike big enough to wake the dead, probably reflects investors bracing for more pain due to this unlock.

Will the upcoming NEON unlock send its price back to $0.10?

Neon (NEON) isn't faring much better. After a brief but wild 40% spike in mid-May, the price crumbled the very next day, leaving investors feeling like they got sucker-punched.

Every time NEON tries to climb back to the $0.13–$0.15 range, it gets slapped back down. With volume drying up faster than a desert oasis, it looks like the sellers are taking control. The RSI is sitting at 42, below its moving average and trending down, adding fuel to the bearish fire. This upcoming unlock could push NEON right back to the critical support at $0.11, and if it breaks, watch out for the $0.095 zone, a former base that could turn into a new battleground.

Meanwhile, ENA's unlock might be larger in absolute value, with $65.86 million for 212.5 million tokens, but it's only 3.72% of its unlockable supply—a drop in the ocean compared to TAIKO and NEON.

While TAIKO, NEON, and ENA brace for their cliff unlocks, other tokens are facing linear unlocks over the same period. Solana (SOL) is set to release 0.09% of its circulating supply, while Worldcoin (WLD) and Morpho (MORPHO) will unlock 2.69% and 2.57% of their circulating supply, respectively. Ethena Finance (ETHFI) will release the highest percentage among the linear unlocks at 3.53% of its circulating supply.