This week’s top cryptocurrencies to watch are Mantra, Pi Network
Bitcoin and most cryptocurrencies remained in a tight range last week as investors monitored new developments in trade and the tensions between President Donald Trump and Jerome Powell.
Last week, the top-performing major cryptocurrencies were artificial intelligence tokens, such as Bittensor, Render, and AI Companions, which had double-digit increases.
This week’s top cryptocurrencies to keep an eye on are Mantra MANTRAom. -8.38% MANTRA, Memecoin, Memecoin meme 2.18% Pi Network and Memecoin
Mantra
Following its decline last week, Mantra is among the best cryptocurrencies to keep an eye on this week. Arkham cited token sales by its investors and insiders, while the management attributed the drop to liquidations by a single major exchange. Mantra has denied the allegations and promised to carry out token burns and buybacks.
The OM cryptocurrency has gradually developed a bearish pennant pattern after plummeting from its year-to-date peak of $9.5 to $0.5938. The psychological point around $0.50 is the next point to watch, but even though investors would be tempted to purchase the dip, it is likely to keep declining.
Memecoin
Memecoin’s recent performance and impending unlocks make it a cryptocurrency to keep an eye on. More than $7.57 million worth of tokens, or 7.96% of the total in circulation, will be unlocked using the memecoin. Because it dilutes current holders, a token unlock frequently results in a reduced price.
The price of memecoin has risen from $0.001388 this month to a high of $0.002794 in recent days, indicating strong performance. The formation of a huge falling wedge pattern, a common bullish indication, preceded this rebound. Additionally, memecoin has risen above the 50-day moving average.
Consequently, there is a chance that the coin will decline before the token unlock and perhaps reach the 50-period moving average at $0.0018, even though the rally might continue.
Pi Network
Additionally, Pi Network will be highlighted for its performance. On Sunday, the token’s price was $0.60, a significant decrease from its peak of $3.
The network’s continuous supply growth is one of the main causes of the decline. In the upcoming year, 1.58 billion tokens are expected to go online, according to data. Over $82 million is earned from the 131 million unlocks that occur on average each month.
Concerns have also been raised over the concentration of Pi ownership. Ten billion tokens are set aside for the foundation, 20 billion are given to the core team, and 65 billion are distributed to community members, according to the developers. There are issues with focus because the foundation and the core team can be seen as one cohesive unit.
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