MANTA Network (MANTA) Surges to New All-Time Highs
Manta Network recently launched its native token, MANTA, which has seen significant growth since its debut. The token, with a total supply of 1 billion tokens and a 2% annual inflation rate, is designed for fees, staking, and liquidity purposes.
Since its initial trading price of $0.05 on Jan. 18, MANTA has experienced substantial gains, reaching an all-time high of $3.33. Despite some corrections along the way, the token has maintained most of its gains and closed Jan. 18 with a rise of 4,240%.
Although there have been fluctuations in the following days, MANTA has sustained an overall uptrend. On Jan. 28, the token reached a new all-time high of $3.89 after securing eight intraday gains in just 11 days. With a surge of 34% in the past week, MANTA continues to gain momentum.
Shiba Inu Aims for $0.00001
The recent price movements of Shiba Inu reflect the broader market conditions, particularly the collapse of Bitcoin on Jan. 22 that caused a market-wide decline.
Shiba Inu was not immune to this sell-off and dropped below the $0.000009 level before recovering to $0.000009 amid a market resurgence. The token aims to reclaim the $0.00001 zone but must overcome resistance at $0.00000955 and $0.00000981 first.
FTX Token Forms Bullish Double-Bottom Pattern
The FTX Token also experienced fluctuations due to market conditions but is attempting to form a bullish double-bottom pattern on the daily timeframe.
A double-bottom pattern occurs when an asset reaches a low point, recovers, and then faces another correction to the same or slightly higher low. This pattern suggests a potential reversal and the end of a downtrend.
FTT formed its first bottom at $2.31 on Jan. 8, recovered to a high of $3.47 on Jan. 12, and held above the $2.9 support until Jan. 18. This week, FTT dropped to a low of $2.47, forming the second bottom. The token aims to confirm the double bottom by surging above $3.2, indicating a more significant recovery campaign.
Hot Take: MANTA, SHIB, and FTT Gain Momentum in Cryptocurrency Market
This week has seen notable developments in the cryptocurrency market, with MANTA Network (MANTA), Shiba Inu (SHIB), and FTX Token (FTT) capturing attention.
MANTA has surged to new all-time highs, experiencing significant gains since its launch. Shiba Inu is aiming for the $0.00001 zone after recovering from recent lows, while FTT is attempting to form a bullish double-bottom pattern for a potential reversal.
These cryptocurrencies demonstrate the dynamic nature of the market and highlight opportunities for investors seeking growth in this sector.
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