As major token unlocks approach, investors are closely watching Solana (SOL), Dogecoin (DOGE), SUI, and other popular altcoins worth avoiding. Typically, due to the effects of supply and demand mechanisms, token unlocks tend to impact asset values. That said, let’s explore some popular cryptocurrencies that traders may want to avoid this week.

Solana, SUI, DOGE, and other top altcoins to avoid

Tokenomist's latest data shows that the cryptocurrency space is brewing a storm. In the next seven days, tokens worth over $625 million will flood into the market. This includes cliff unlocks (one-time large-scale releases) and linear unlocks (daily steady releases), which may force investors to avoid these specific top altcoins for a period.

Projects like SUI, OMNI, IOTA are about to face significant 'cliff unlocks.' These 'cliff unlocks' involve huge sell-off risks, as the volume released at once is substantial, disrupting the supply-demand balance.

On the other hand, projects like Solana, WLD, TRUMP, TIA, DOGE, TAO, AVAX are facing significant linear unlocks. These projects plan to unlock tokens worth over $1 million daily, which will further pressure their respective markets.

A quick look at the top altcoins to avoid

With token unlocks, they often inject a large supply into the market, and traders tend to remain cautious to avoid sudden price drops. A massive unlock is approaching this week; let’s discuss which major altcoins need to be avoided.

Solana Unlock and Price

WuBlockchain has compiled this chart based on Tokenomist's data, outlining the number of tokens set to unlock this week. One of the top altcoins, SOL, is under significant pressure, with $67.61 million worth of tokens set to unlock this week.

However, SOL's recent performance indicates that, against the backdrop of a broader market recovery, investors may have shaken off their concerns. The SOL price rose over 2.5% today, climbing from a 24-hour low of $144.89 to $151.

Meanwhile, Solana tops the mainstream coin list this week, with $67 million worth of tokens entering circulation. Although this only accounts for 0.09% of SOL's circulating supply, large holders could still trigger sell-offs.

DOGE Unlock and Price

Aside from Solana, another leading figure in the digital asset space may also face pressure. Dogecoin (DOGE) will issue $17.09 million this week. Although this is a relatively small proportion, unexpected sell-offs can easily affect the price of this sentiment-driven top memecoin.

However, the price of Dogecoin also increased by about 0.7% to $0.1807, while trading volume decreased by 12% to $1.08 billion. Notably, investors will closely monitor its future trends, with many still on the sidelines waiting to understand the impact of the unlock on its value.

SUI Unlock and Price

SUI is another altcoin that investors may want to avoid at the moment, with a significant cliff and linear unlock total of about $262.88 million. Combined, the cliff and linear unlock will have a massive market total value. The cliff unlock alone can release a value of $262 million of SUI, accounting for approximately 2.27% of its total supply.

Meanwhile, the price of SUI also rose today alongside other cryptocurrencies like Solana and DOGE, increasing by 2% to $3.69. However, as token unlocks are approaching, investors should conduct due diligence before placing bets. Additionally, the movements of whales will be crucial in the coming days.

Last week, a whale bet on three cryptocurrencies, leading to a significant price surge. This reflects the influence these large investors have on overall market sentiment.