Cryptocurrencies to watch, As investors monitored fresh trade activity and rising tensions between President Donald Trump and Federal Reserve Chairman Jerome Powell last week, Bitcoin and most cryptocurrencies remained within a narrow range. While the leading cryptocurrencies saw little movement, AI-based tokens, including Bittensor, Render, and AI Companions, were exceptional performers, jumping by double digits.
Three cryptocurrencies stand out as essential assets to monitor this week:
Mantra (OM) Price Drop & Recovery Plans
Following a dramatic price drop, Mantra (OM) has emerged as one of the top cryptocurrencies to monitor. The management team attributed this disaster to a single significant transaction involving liquidations. However, Arkham stated that acts by investors and insider token sales contributed to the decline. Mantra has promised to carry token burns and buybacks in response to help steady the market.
From its year-to-date high of $9.50 to just $0.59, the OM coin has plummeted dramatically, creating a bearish pennant pattern. Although some investors may view this as an opportunity to purchase the dip, the price is likely to continue declining. The psychological price point of $0.50 is the next critical supporting level to monitor. Mantra might be under constant downward pressure, but its repurchase and burn policies might give promise for a long-term recovery.
Memecoin: Growth and Unlock Risk
Another cryptocurrency to watch is the memecoin, which has recently demonstrated excellent performance and is approaching token unlocks. Comprising 7.96% of the whole supply, the token will shortly unlock nearly $7.57 million worth of tokens. Token locks have historically led to price drops by diluting the current owners’ stake.
Following a bullish declining wedge pattern—a technical indication usually indicating additional upside potential—memecoin has lately jumped from $0.001388 to $0.002794. Positive for investors, it has also exceeded the 50-day moving average. The forthcoming token unlocking, however, could cause short-term volatility, potentially causing the price to retreat to the 50-day moving average, currently above $0.0018. Memecoin exhibits indications of strength, but one should be cautious regarding the possibility of a market downturn before the tokens ‘locking.
Pi Network Price Drop and Supply Issues
With its token price trading at just $0.60 on Sunday, far below its all-time high of $3.00, Pi Network continues to disappoint investors. The growing token supply is a primary factor for this price drop.
With a monthly unlocking average of 131 million tokens, worth over $82 million, more than 1.58 billion tokens are likely to enter circulation over the next 12 months. This continuous rise in supply puts the price under downward pressure. One also worries about the Pi keeping concentration. Community members will receive 65 billion tokens, while the foundation and core team will retain 30 billion tokens. This enormous concentration of tokens within a single entity raises questions about the potential for centralisation. Given these problems, Pi Network’s price fluctuations and supply concerns make it a cryptocurrency to watch for any potential shift in market sentiment.
Crypto Watch: Mantra, Meme, Pi Network
Mantra (OM) remains a must-watch coin, especially with its recent price decline and management’s repurchase and burn policies. Although there is always a chance for ongoing decline, a longer-term recovery path can still exist.
Although Memecoin (Meme) has recently shown momentum, the approaching token unlocking could cause instability. The possibility of a price drop before the event should prompt investors to exercise great caution. Since the market develops, Pi Network (Pi) is a crucial cryptocurrency to keep an eye on, as it still faces difficulties with supply inflation and centralisation issues.
