Mantle (MNT) price drops 9% amid heavy wash trading and sell pressure from large holders.

Mantle (MNT) price fell about 9% to $0.59 on October 7, 2026, driven by on-chain data showing inflated trading volume mostly due to wash trading and sustained sell-offs from accumulator wallets directing tokens to major exchanges like Coinbase. Despite net outflows from exchanges typically signaling accumulation, the concurrent price drop suggests off-exchange distribution by large holders rather than retail buying. No major Mantle-specific news or token events explain the decline, indicating structural supply pressure and reduced organic liquidity as key factors. Investors should watch exchange inflow/outflow trends and top wallet activity for signs of stabilization or further selling.

As of Oct 07, 2026 07:02 WIB, Mantle (MNT) trades at Rp10.579 on Pluang, down 9.31% in the past day. The token's market cap stands at Rp34,89 trillion with a 24-hour trading volume of Rp713,27 million. Despite a strong buy interest on Pluang with 96% of orders being buys, the price decline reflects broader supply pressures noted in the market data.