Two Reasons Why MNT Price Appears Ready For $2

Mantle’s MNT has emerged as the market’s standout performer today, surging nearly 20% and setting a new all-time high during the early Asian trading session. 

On-chain data shows that the breakout rally is being fueled by rising social media chatter and an uptick in network activity. Technical indicators also confirm strong bullish momentum, hinting at the possibility of further price growth for the token.

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MNT Price Rally Strengthened by Soaring Network Activity and Retail Attention

According to Santiment, MNT’s social dominance has trended upward since September 7. It now sits at a 30-day high of 0.345%, indicating a sharp rise in the altcoin’s relevance within crypto discussions during the review period.

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An asset’s social dominance tracks how often it is mentioned across social platforms, forums, and news outlets relative to the rest of the market. When its value falls, the asset is losing attention and engagement from the community. 

On the other hand, when an asset’s social dominance climbs with its price, it signals heightened retail attention and speculative interest. This increased visibility can help amplify MNT’s gains in the short term.

Moreover, the number of daily active addresses on the Mantle network has risen sharply, indicating stronger user participation and demand. Per Santiment, the daily count of addresses involved in at least one MNT transaction has increased by over 300% since September 7. 

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A 300% surge in daily active addresses within four days suggests that more users are engaging with the ecosystem. This trend indicates that the MNT price rally is well backed by the market’s demand, raising the likelihood of sustained momentum. 

Mantle’s MNT Eyes $2 After Breakout

On the daily chart, MNT’s Aroon Up Line, at 100%, supports this bullish outlook. The Aroon Indicator identifies the strength and direction of a trend by measuring the time elapsed since the most recent highs and lows. 

When the Aroon Up Line registers at 100%, it indicates that a new high has just been set. It also suggests that the bullish trend is at its strongest possible reading. This means buyers remain firmly in control, and upward momentum will likely persist in the near term.

If the uptrend continues, MNT could climb above its current peak and attempt to establish a new high, possibly around $2.

On the other hand, if profit-taking ensues, MNT could shed some gains and plunge below $1.51.