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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Dogecoin Unlock To Put $22.9M Worth Of Tokens Into Circulation

Scott Matherson
Scott Matherson
3 weeks ago
3 mins read
Dogecoin price analysis news

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A large number of token unlocks are expected to hit the altcoin market this week, and Dogecoin is one of those with the most notable unlocks happening this week. With the uncertainty in the market, token unlocks like these could affect the Dogecoin price. However, with deep liquidity, there is a high possibility that the meme coin is able to absorb this massive unlock without much effect.

Large Dogecoin Unlock To Hit The Market

In an X post, Wu Blockchain reported that there are a number of single token unlocks that are set to go live in the altcoin market over seven days. However, the ones of concern are the linear unlocks that will continue into the first week of August, putting hundreds of millions of dollars into the market.

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One of the major unlocks shown was for Dogecoin, which is supposed to see approximately 95.5 million DOGE tokens added to its supply. Going by the current supply, this would be an additional 0.06% added to the circulating supply. At the current market price, this would be around $22.9 million worth of tokens being added.

Naturally, token unlocks can impact the price of a digital asset, and Dogecoin is no different. However, looking at the daily trading volume of the cryptocurrency, which is in the billions of dollars, as well as the deep liquidity across major crypto exchanges, it is likely that the DOGE market will absorb this new supply without much fuss.

Additionally, not all of the 95 million tokens will be sent into circulation at once. Given that it’s a linear unlock, meaning the coins will be released into circulation in smaller batches, it is much easier for the market to absorb the supply without any negative impact to the Dogecoin price.

Other Tokens Being Unlocked

While the Dogecoin token unlock is significant, it is not the largest token unlock expected to happen this week. The crown goes to Solana, which is expected to see 465,770 tokens unlocked. This stash is worth a staggering $87 million and translates to 0.09% of the total supply.

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Next on the list is the TRUMP token at 4.89 million tokens worth $50.13 million. This accounts for 1.67% of the total supply. Then, it is followed by Worldcoin (WLD), with an expected 37.23 million tokens to be unlocked, worth $44.67 million, and translates to 2.16% of the total supply.

Other major unlocks include TAO with 50,400 tokens worth $21.49 million. There’s also Avalanche (AVAX) with 700,000 tokens worth $18.07 million, and Celestia (TIA) with 6.96 million tokens worth $14.20 million.

Dogecoin price chart from TradingView.com
DOGE price moves toward support | Source: DOGEUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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