Mantle's (MNT) price has surged 11.01% in the past day to $1.01, despite a 12.0% decline over the past week. Its circulating supply has decreased by 0.14% to 3.26 billion, while the trading volume has increased by 33.0%. As of now, MNT ranks 32nd in market capitalization at $3.29 billion, with a max supply of 6.22 billion.
Mantle Price Surges 11.01%, Defying Bearish Weekly Trend
In a surprising turn of events, Mantle (CRYPTO: MNT) has staged a remarkable 11.01% surge over the past 24 hours, propelling it to a current price of $1.01. This bullish trend stands in stark contrast to the coin's performance over the past week, during which it experienced a significant 12.0% decline from $1.11 to its present level.
Despite the recent downturn, Mantle's price remains above its 52-week low of $0.57, indicating the coin's long-term resilience. However, it remains significantly below its all-time high of $1.54.
Technical analysis using Bollinger Bands, an indicator of price volatility, reveals a wider range for both the daily and weekly price movements. This suggests increased market volatility around Mantle's price action.
Trading volume has also surged by 33.0% over the past week, indicating heightened market activity. Interestingly, this rise in volume coincides with a 0.14% decrease in the circulating supply, bringing it down to 3.26 billion, which represents approximately 52.49% of the maximum supply of 6.22 billion.
According to CoinGecko API data, Mantle currently ranks 32nd in market capitalization, with an estimated value of $3.29 billion.
Analysts have mixed views on Mantle's future performance. Some believe that the recent rally may be a temporary blip, while others expect a sustained upward trend based on the coin's solid fundamentals.
Investors should approach any cryptocurrency investment with caution and conduct thorough research before making any decisions. Volatility is an inherent characteristic of the cryptocurrency market, and sharp price swings can occur at any time.
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