Magic Eden (ME) price has struggled following its airdrop, with 75% of the 125 millions tokens already claimed. Most of the activity occurred in the first hour, with over 60 million tokens claimed, while the remaining 25% is expected to be claimed gradually without major price disruptions.
Roughly 80% of claimers have sold their entire allocation, and only 8.3% are holding all their tokens, signaling limited long-term interest among recipients. As ME hovers around key support levels, its ability to hold $4 or break through resistances at $4.69 and $5.10 will define its next price movement.
Users Claimed 75% of the ME Available
Out of the 125,000,000 ME tokens distributed in the airdrop, around 94,000,000 have already been claimed. That accounts for 75% of the total supply.
As expected, the initial surge of activity saw over 60 million tokens claimed within the first hour.
The remaining 25% of tokens are likely to be claimed gradually over the coming days, as most recipients who were eager to sell or use their tokens have likely already done so. This slower pace of claims reduces the likelihood of sudden sell-offs that could significantly impact ME’s price.
As a result, the unclaimed portion is expected to have minimal influence on ME price.
Roughly 80% of Claimers Already Sold All Their ME
So far, 133,888 wallets have claimed ME tokens, with 108,070 wallets—roughly 80%—selling their entire allocation from the airdrop.
When including wallets that sold at least 25% of their tokens, the figure rises to 121,617, or 90% of all participants.
Only 11,175 wallets, or 8.3%, have chosen to hold all their airdropped ME. Just 1,276 wallets—representing 0.95%—bought additional ME after receiving their coins, in one of the most awaited airdrops in the Solana ecosystem for this year.
This suggests that while there is limited enthusiasm for accumulation post-airdrop, most participants treated the event as a short-term liquidity opportunity rather than a long-term investment.
ME Price Prediction: Can It Go Back to $5?
If the current downtrend persists, Magic Eden price could test $4 as the next significant support level. A break below this level might signal further weakness, potentially leading to extended selling pressure.
However, $4 will likely provide a strong floor, and staying above it could prevent deeper declines in the near term.
On the other hand, if positive momentum emerges, Magic Eden could rebound and test the $4.69 resistance level. Breaking through this resistance could pave the way for a rise to $5.10. If that happens, ME has the potential to reach as high as $5.72 if buying activity intensifies.
These resistance levels will likely play a critical role in determining whether ME can regain a strong upward trajectory.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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