MANTA Token Released: Will the Price Go Up or Down?

Bittime – In the crypto, token unlock are important moments that attract great attention from investors and market analysts.

This event can cause significant market movements, depending on investors' reactions to the newly available tokens.

One of the events in the spotlight was the release of the MANTA token associated with the Manta Network.

It is planned that on March 18, 2024 at 12:30, 2.66% of the total supply of MANTA tokens, with an estimated value of $20.87 million, will be available on the market.

What are the implications of releasing MANTA tokens?

The release of this token to the market is a moment full of opportunity and uncertainty. On the one hand, an increase in supply can lead to increased liquidity and a potential price increase if demand exceeds the increase in supply.

But on the other hand, this could also lead to a sell-off from token holders who choose to liquidate their holdings, which could result in a short-term price drop.

Interestingly, as of this writing, the MANTA token is experiencing bullish momentum, trading at $3.23, up 6.40% from its intraday low of $2.94.

This positive trend adds further intrigue to the upcoming release as market participants speculate on the immediate impact on the token's value.

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The release of tokens is not an isolated event in the crypto ecosystem, but rather part of the economic mechanisms in blockchain projects.

Typically, these releases are planned as part of the project from the start and are intended to slowly increase the number of tokens in circulation.

This approach protects the token ecosystem from market manipulation and allows for more stable and sustainable development.

Nonetheless, the release of MANTA tokens is just one of many taking place in the crypto space, with a total token value of $305.16 million set to be released next week across projects.

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MANTA: A Technical Analysis

On the MANTA/USD price chart, the Relative Strength Index (RSI) has risen above its signal line to 44.38, indicating that the current trend may be reversing upwards. An increase in RSI also signals increased buying pressure and the possibility of further price increases in the near future.

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As a result of these optimistic indications, more investors may want to take advantage of the projected uptrend.

Additionally, a Rate of Change (ROC) rating of 5.49 that is out of negative territory adds to the possibility of a bullish trend reversal, indicating a positive momentum shift that could lead to further price growth.

This combination of RSI and ROC represents a significant buying opportunity for traders looking to enter the market at a favorable time.

How to Buy Manta Network (MANTA) on Bittime

You can buy and sell Manta Network (MANTA) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Manta Network (MANTA) is available on Bittime with the market pair MANTA/IDR . To be able to buy MANTA IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Manta Network (MANTA) on Bittime . 

Monitor the price chart movements of Manta Network (MANTA) , Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.