$369M in Token Unlocks Set to Hit Market: TAIKO and NEON Face Steepest Sell Pressure

More than $369 million worth of tokens are scheduled to unlock between June 2 and June 9, and analysts are closely watching the potential price fallout—especially for Taiko (TAIKO) and Neon (NEON), which face some of the most impactful releases in terms of token supply.

According to data, Taiko is bracing for a massive cliff unlock of 81.55 million tokens, representing over 71% of its total unlockable supply, valued at roughly $47.4 million. Meanwhile, NEON is set to release 53.19 million tokens, accounting for 6.48% of its total unlock supply and worth about $6.94 million.

These large-scale releases are raising red flags among traders who anticipate increased sell pressure and potential price drops for both assets.

TAIKO is currently facing significant downside risk. After a failed price reversal in late April and early May—where it briefly broke above the 20-day exponential moving average (EMA 20)—momentum has faded. The price has since broken below local support around $0.70 and is now hovering near $0.55, back under the EMA 20.

Technical indicators are signaling further weakness. The relative strength index (RSI) has dropped to 34 and is sloping downward, reflecting a bearish trend. A recent 16% plunge on May 31, accompanied by high trading volume, suggests investors are already pricing in the impact of the unlock. If bearish momentum continues, TAIKO could break below its all-time low of $0.48.

NEON isn’t far behind in market stress. Despite a brief rally in mid-May that pushed its price up over 40% in a day, the gains were short-lived. NEON has since struggled to hold the $0.13–$0.15 range and recently fell below its EMA 20. Current price action, combined with thinning volume and an RSI of 42 pointing downward, suggests bears are taking control.

With the unlock looming, NEON risks a retest of the $0.11 support level. A drop below that could expose the $0.095 zone, a historically strong price base.

While Ethena (ENA) will release more in total value—$65.86 million across 212.5 million tokens—it represents just 3.72% of the asset’s unlockable supply. As a result, the market impact may be more muted compared to TAIKO and NEON.

Additional Unlocks to Watch

Beyond these major players, several other tokens are undergoing linear unlocks this week. These include:

• Solana (SOL): Unlocking 0.09% of circulating supply
• Worldcoin (WLD): 2.69% of circulating supply
• Morpho (MORPHO): 2.57%
• Ethena Finance (ETHFI): The largest among linear unlocks at 3.53%