$369M to be unleashed in token unlocks this week: TAIKO and NEON face heaviest sell pressure

As token unlocks worth over $369 million loom this week, TAIKO and NEON prices face the most intense pressure, set to release 71% and 6.5% of their unlockable supply, respectively.According to data from Tokenomist, this week, from June 2 to June 9, Taiko (TAIKO), Ethena (ENA), and Neon (NEON) are facing major cliff unlocks that could exert significant downward pressure on their prices. TAIKO and NEON are facing the biggest cliff unlocks in terms of supply impact, with TAIKO unlocking 81.55 million tokens—71.23% of its total unlock supply—valued at $47.4 million, and NEON unlocking 53.19 million tokens, or 6.48% of its unlock supply, worth $6.94 million. Will TAIKO cliff unlock send its price back to ATL?Taiko (TAIKO) is facing the largest upcoming cliff token unlock in the next 7 days, which carries a massive downside risk based on the recent price action and indicators. After attempting a reversal in late April and again in May — marked by two consecutive higher highs and breaks above EMA 20 — the momentum failed to hold.The price then made a lower high, pulled back, consolidated, and then broke below the local horizontal support at around $0.70, dropping to the $0.55 level and falling back below the EMA 20. The RSI also crossed below its moving average and currently sits at 34, pointing downward, confirming weakening momentum.Given the failed reversal attempts and a confirmed breakdown to lower levels, the upcoming token unlock poses a high risk of pushing TAIKO price below the critical support at $0.48 — its all-time low. The sharp 16% drop on May 31, accompanied by a massive volume spike, likely reflects investors anticipation of further downside due to this unlock.Will the upcoming NEON unlock send its price back to $0.10Similarly to TAIKO, Neon (NEON) price recently broke below its EMA 20 after a period of tight consolidation around it. This came after a brief but sharp spike in mid-May, where the price surged by over 40% in a single day, only to retrace most of the gains immediately the next day.Price action shows rejection at every attempt to reclaim the $0.13–$0.15 range, and with volume thinning out, sellers appear to be regaining control. The RSI is currently at 42, below its moving average and sloping downward, reinforcing the bearish momentum. With the upcoming unlock, NEON price risks retesting the critical support around $0.11. A break below that level would likely expose the $0.095 zone, which served as a previous base.Meanwhile, ENA’s unlock is larger in absolute value at $65.86 million for 212.5 million tokens, but it represents a much smaller 3.72% portion of its unlockable supply.Alongside the cliff unlocks for TAIKO, NEON and ENA, a range of tokens will experience linear unlocks over the same period, including Solana (SOL) with the release of 0.09% of its circulating supply, Worldcoin (WLD) and Morpho (MORPHO) unlocking 2.69% and 2.57% of their circulating supply, respectively. Ethena Finance (ETHFI) will release 3.53% of circulating supply—the highest among the linear unlocks.