Cryptocurrency Market Update: Key Tokens to Watch This Week
Bitcoin and most cryptocurrencies stayed in a narrow range last week. Investors were keeping an eye on trade developments and the tension between President Donald Trump and Jerome Powell.
Artificial Intelligence tokens, such as Bittensor, Render, and AI Companions, were the stars. They saw double-digit gains. This week, Mantra (OM), Memecoin (MEME), and pi Network (PI) are the cryptocurrencies to watch.
Mantra (OM)
Mantra is in the spotlight after its recent plunge. the team blamed the crash on liquidations by a large exchange. Tho, Arkham suggested insider sales. mantra denies this and plans buybacks and token burns.
The OM token fell from $9.5 to $0.5938.It’s forming a bearish pennant pattern. While some may want to buy the dip, it could keep falling. The next key level is $0.50.
Memecoin (MEME)
Memecoin is worth watching due to its recent performance and upcoming token unlock.The unlock is worth over $7.57 million, or 7.96% of the total supply. This often leads to a price drop.
Memecoin has risen from $0.001388 to $0.002794. It formed a falling wedge pattern, a bullish sign. It also broke above the 50-day moving average. while the uptrend may continue, ther’s a risk of a drop before the unlock.
Pi Network (PI)
Pi Network is in the spotlight due to its disappointing performance. It was at $0.60 on Sunday, far from its all-time high of $3.
The supply increase is a key reason for the plunge. Over 1.58 billion tokens will unlock in the next year. The average monthly unlock is 131 million, worth over $82 million.
There are also concerns about the concentration of Pi holdings. The developers noted that 65 billion tokens are for community members, 10 billion for the foundation, and 20 billion for the core team.This raises concerns about concentration.
