JUST (jst) 
Bitcoin and most cryptocurrencies traded in a narrow range last week as investors kept a close eye on developments in global trade and ongoing tensions between U.S. President Donald Trump and Federal Reserve Chair Jerome Powell. Meanwhile, tokens tied to Artificial Intelligence platforms, such as Bittensor, Render, and AI Companions, outperformed the market, posting double-digit gains.
As we look ahead, three cryptocurrencies stand out as ones to watch this week: Mantra (OM), Memecoin (MEME), and Pi Network (PI). Each of these tokens has shown significant market activity and potential turning points, making them noteworthy for beginner and intermediate investors.
Mantra (OM)
Mantra has drawn attention after a significant price drop last week. The decline was attributed to liquidations by a major exchange, although some reports suggested that insider token sales contributed to the crash. Mantra’s management has denied these claims, instead announcing plans to conduct buybacks and token burns to stabilize the price.
The OM token has seen a steep decline from its year-to-date high of $9.50 to its current level of $0.5938. From a technical analysis perspective, the token appears to be forming a bearish pennant pattern, which could signal further downside. Investors should exercise caution, as the next critical support level to watch is the psychological price point of $0.50.
Key Points for Mantra Investors:
- Monitor the impact of buybacks and token burns on OM’s price.
- Watch for a potential break below $0.50, which could signal further declines.
- Evaluate the risks of market concentration and insider activity.
Memecoin (MEME)
Memecoin is another cryptocurrency to keep an eye on due to its recent price movements and upcoming token unlocks. The project plans to release tokens worth over $7.57 million, representing 7.96% of its circulating supply. Historically, token unlock events can lead to price declines as they increase the circulating supply and dilute existing holdings.
Over the past few days, Memecoin’s price has climbed from $0.001388 to a recent high of $0.002794, supported by the formation of a bullish falling wedge pattern. Additionally, the token has moved above its 50-day moving average, a positive technical indicator. However, with the upcoming unlock, there is a risk of a short-term pullback, potentially bringing the price back to the 50-period moving average at $0.0018.
Key Points for Memecoin Investors:
- Be cautious of the potential price impact of token unlocks.
- Track key support levels, particularly the $0.0018 mark.
- Utilize technical indicators like moving averages to guide trading decisions.
Pi Network (PI)
Pi Network, once a highly anticipated project, has continued to underperform, with its price trading at $0.60—a steep drop from its all-time high of $3. The token’s decline can be largely attributed to an increase in supply. Over the next 12 months, an estimated 1.58 billion tokens are expected to be unlocked, translating to an average monthly release of 131 million tokens, valued at over $82 million.
Another concern for Pi Network is the concentration of token holdings. Developers have disclosed that 65 billion tokens are allocated to community members, while 10 billion are reserved for the foundation, and 20 billion are held by the core team. Since the foundation and core team effectively operate as a single entity, this raises questions about centralization and its potential impact on the token’s price.
Key Points for Pi Network Investors:
- Understand the implications of the ongoing supply increase on price stability.
- Evaluate the risks associated with the centralization of token holdings.
- Monitor community sentiment and developer actions to address these concerns.
For cryptocurrency investors, staying informed about market trends, token unlocks, and supply dynamics is crucial. As always, conduct thorough research and consider market conditions before making investment decisions.
