I've been watching $MERL lately, and it feels like the calm before a storm—the surface is eerily still. It's not that there's a problem with the current price, but those unlock dates in December are like landmines planted in advance, and the whole market is just waiting for them to blow up.

This month, the biggest headaches boil down to three things: the unlock frequency is terrifyingly high, the timings are all bunched together, and each release is pretty substantial. In just a few days, nearly 7,000 tokens will be dumped onto the market—who can withstand that kind of selling pressure? Just flip through the calendar and you'll see, this move is basically playing with open cards.