Mantle Back In the Spotlight? MNT Price Pumps 17% This Week, What is Going On

Mantle (MNT) is back in the spotlight, as the governance and utility token powering the Mantle Layer 2 Network maintains its upward trajectory despite challenging market conditions.

On the weekly timeframe, MNT has surged over 17%, pushing August gains to approximately 50% while completing a remarkable 100% recovery from its June low of $0.6.

The token is currently trading at $1.24 with a market capitalization exceeding $4.17 billion according to CoinGecko data, and is now competing directly with established projects like Pepe (PEPE), Ethena (ENA), and Aave (AAVE) for a spot within the top 30 crypto rankings.

Several catalysts have powered MNT’s recent price acceleration, but Mantle’s integration with Bybit exchange is the primary driver.

The project recently announced that MNT is transforming beyond its original native token function, evolving into a fundamental asset within Bybit’s ecosystem through expanded utility across the platform’s services.

"It’s not Bybit and Mantle. It’s Bybit with Mantle — and the wider ecosystem we’re growing together."

From retail to institutions, products to real-world use cases, the future is bright as our journey with @Bybit_Official is just getting started.

Hear more from… pic.twitter.com/a2m5D3wwAy

This Bybit partnership has generated substantial demand increases for MNT tokens, with measurable on-chain activity improvements.

Santiment’s on-chain analytics reveal that active addresses have exceeded the April 2024 record high, a period when MNT traded at $1.54.

Notably, wallets containing between 100,000 and 1 million MNT have substantially increased their holdings.

In fact, stablecoin supply across the Mantle Network has achieved a new peak of $713.8 million, marking a substantial 210% year-over-year increase which resulted from growing network utilization.

A newer high for total supply of stablecoin on Mantle Network.

Now at $713.8M (+210% YoY).

Mantle szn in full effect pic.twitter.com/Iabr94OUUx

Should this growth trajectory persist, market analysts suggest MNT could potentially breach the $2 price level.

Technical analysis of MNTUSDT on the four-hour timeframe reveals a distinct double-bottom pattern formation, historically associated with significant upward movements, similar to the previous 31% surge earlier this month.

Price action currently consolidates around $1.24, positioned slightly below the 9-period Simple Moving Average, while the pattern’s neckline resistance sits marginally above present levels.

The Relative Strength Index maintains neutrality around 47, indicating market capacity for expansion in either direction without reaching overbought conditions.

If purchasing momentum resumes and drives price above the $1.30–$1.35 resistance zone, the double-bottom pattern projects a target of approximately $1.63, representing roughly 31% upside potential from the breakout level.

However, failure to maintain support at $1.20 would compromise the bullish structure and potentially trigger additional downside consolidation.

Many altcoins are going up even when Bitcoin goes down. This means new presale projects are getting popular again.

One project getting attention is Snorter Bot. It’s a trading bot that works on Telegram and helps people trade on Solana and Ethereum networks.

Snorter Bot (SNORT) can make trades super fast and spot 85% of scam coins before you buy them.

Since May, the project has raised over $3.3 million from investors who think trading bots could be huge in the meme coin world.

Right now, you can buy SNORT tokens for $0.1021 in presale. Many experts think it could hit $1.00 when it goes public.

You can acquire the $SNORT tokens on the Snorter Bot website before more people find out about it.

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