Mantle (MNT) hits a new peak as on-chain activity surges

MNT of Mantle has become one of the most prominent assets in the market today, recording an increase of over 15% and reaching a new all-time high during the early trading session in Asia.

On-chain data indicates that this breakout is driven by two main factors: strong social media dissemination and a significant increase in network activity. Technical signals are also currently reinforcing the bullish outlook, suggesting that MNT may continue to advance further in the short term.

The increase is supported by social networks and network activities

According to data from Santiment, the level of "social dominance" of MNT has started to increase since September 7 and has now reached the highest point in 30 days, at 0.345%. This figure reflects a surge in the level of interest in MNT in cryptocurrency discussions, indicating that this altcoin is increasingly becoming the focus of attention in the community recently.

Social dominance is a measure of how frequently an asset is mentioned on social media platforms, forums, and news channels compared to the rest of the market. When prices decline, community attention often weakens. Conversely, when this metric increases in parallel with prices, it signals that the wave of interest from retail investors is expanding and speculative demand is growing stronger. This is also the driving force that can amplify the profits of MNT in the short term.

The social dominance of MNT | Source: SantimentNot only limited to psychological factors, on-chain data also shows that activity on the Mantle network is booming. Santiment recorded that the number of addresses participating in at least one MNT transaction per day has increased by over 300% in just four days since September 7. This means that more and more new users are joining the ecosystem, reflecting a substantial increase in demand for the token.

The 300% explosion in the number of daily active addresses is an important signal. It not only demonstrates the temporary interest from the community but also shows that the usage foundation is developing strongly. This factor contributes to creating solid support for the price increase of MNT, while enhancing the ability to maintain a positive trend in the near future.

The operating address of MNT | Source: Santiment## MNT of Mantle aims for the milestone of 2 USD after the breakout

On the daily timeframe, the Aroon Up indicator of MNT is currently at 100% – a strong signal supporting bullish prospects. The Aroon indicator is designed to measure the strength and direction of a trend by calculating the time elapsed since the most recent peak or trough was formed.

When the Aroon Up line reaches an absolute level of 100%, it indicates that a new peak has just been established. This is also a sign that the upward trend is at its strongest state, reflecting that the buyers are still dominant and controlling the market. In this context, the upward momentum of MNT is likely to be maintained in the short term.

MNT price chart 1 day | Source: TradingViewIf the upward momentum continues, MNT could completely surpass the current peak to establish a new high. The 2 USD mark is becoming the next important target that investors are aiming for.

However, the risk of adjustment still exists. In the event that profit-taking pressure emerges, the price of MNT may lose part of its growth achievements, with an important support threshold to watch around the region of 1.51 USD.

Taylor