LAB team burns $11M – Can price survive 46M token unlock hitting next?
The LAB token, after rebounding from under $1 to over $1 following a team burn of 10 million tokens worth $11.3 million, faces a critical test. Despite the short-term price recovery, trading volume declined, suggesting weak organic demand. A major concern is the imminent unlock of 46.3 million tokens from airdrop and investor allocations, valued at approximately $48.4 million. This potential supply influx could overwhelm the recent deflationary burn. Technical indicators like the MACD remain negative, highlighting bearish momentum. The price's ability to hold above $1 depends on whether sustained buying demand can absorb the upcoming token unlocks.
ambcrypto07/10 22:02
