In mid-December, MERL will enter a period of intensive unlocking.

From December 12 to 19, the market will face a concentrated selling pressure of about 70 million MERL - this not only means a surge in circulation but also directly tests the market's capacity.

Why pay attention to this wave of unlocks? Simply put, early holders have a very low cost basis, and given the current market fluctuations, many have long wanted to cash out. Once the supply is suddenly released, it is inevitable that some of these profit-taking positions will choose to realize their gains, combined with the uncertainty in the market, the short-term selling pressure will be quite considerable.

Supply shocks of this kind are not uncommon in the history of tokens — every large-scale unlock has significant price fluctuations. The recent unlock of MERL in December could become a key risk point in the short term. Investors need to have adequate psychological expectations for this and plan their risk management strategies in advance.