The unlocking of 74.59 million USD worth of Sonic tokens on July 5 contributed to a 7.39% increase in supply. This has prompted DeFi investors to sell, creating noticeable downward pressure on the S token price.
Past token unlocks have shown a consistent pattern of significant price drops, with a previous one resulting in a decline of approximately 42.75%. Given the current market sentiment, further declines seem likely.
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