As the BNB chain wave heats up the meme coin market, Mantle (MNT) takes a different path of stable and sustainable growth.
According to data from CoinGecko, MNT surged more than 20% in the past 24 hours, reaching an all-time high (ATH) of $2.86, quickly gaining global attention among investors. This rally is not just technical, as it points to Mantle’s strong fundamentals and growing confidence in its model.
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According to Mantle Network’s official update, MNT’s market capitalization has exceeded $7.5 billion, doubling in just one month. Two days later, it reached $8.9 billion, an unusual growth pace for a top Layer 2 (L2) token.
Although the altcoin market remains highly fragmented and capital flows into the BNB chain, MNT stands out with steady upward momentum, minimal downside volatility, and impressive price resilience after corrections.
Market data shows that MNT maintains strong trading volume and steady buying pressure even as other altcoins stagnate.
“It’s rare to get a coin that moves so strongly upwards and has so little downward volatility. Usually it’s one or the other. MNT is the perfect combination of coins that don’t crash and still have big +20% days,” Altcoin Sherpa noted.
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X’s analysis also highlighted that MNT was “one of the strongest tokens of the cycle,” posting a 130% month-on-month (MoM) increase. With its efficient, low-cost Layer 2 model and growing ecosystem, Mantle is positioning itself as the “next big Ethereum L2” following Arbitrum and Optimism.
The rally isn’t over yet, but we need to be careful
Historical data suggests that parabolic growth may continue. As BeInCrypto previously reported, MNT reached its previous ATH when the USD1 stablecoin was launched on the network. This event increased TVL and trading volumes, attracting large investors seeking highly liquid but still “undervalued” Layer 2.
MNT also reached its ATH in early September after surging 150% due to Bybit’s “flywheel” model that links trading activity to token demand. Despite this momentum, MNT remains undervalued compared to exchange tokens such as BNB and OKB.
Technically, MNT maintains strong bullish momentum, sufficient liquidity, and no signs of distribution. Analyst Ali asserted that “Mantle is not looking back,” and set his next target at around $3.6.
The current market structure indicates a continuation of the uptrend with strong support between $2.4 and $2.5 and significant resistance between $3.0 and $3.6.
However, correction risks still remain. Mantle’s fully diluted valuation (FDV) is currently high, potentially making the price sensitive to profit-taking pressure.
Additionally, its liquidity relies on the USD1 stablecoin, a politically tied asset, which can cause significant volatility if regulatory conditions change.
