Monad Price Prediction: MON Price Soars 30% As Chain Faces Fake Transfer Scare

The Monad price has soared 30% in the last 24 hours to trade at $0.04373 as of 3.50 a.m. EST on a 77% pump in trading volume to $1.32 billion

The MON price increase comes despite scams targeting new users with fake “vanity address” transactions that mimic real wallets.

Scammers sent zero-value or spoofed transfers, hoping users copied them when sending tokens.

“Warning—there are fake ERC-20 transfers pretending to be from my wallet,” said co-founder James Hunsaker in a post on X. ”You can see the txs are not sent by me.”

On EVM-based chains, attackers can create fake transfer events and swap calls using smart contracts, making it look like real trading even though no tokens moved.

Monad aims to compete with Ethereum and Solana, offering fast, EVM-compatible transactions.

Monad Price Shows Renewed Momentum After Holding Key Support

The MON/USDT price chart on the 3-day timeframe shows a market that spent many months in a strong downtrend before finally finding support and trying to move upward again.

For a period, the price followed a clear bearish curve, with sellers pushing the coin lower and lower. This continued until MON reached the consolidation zone between $0.015 and $0.022, where the price stopped falling and began to move sideways. This area acted as a strong support because buyers always stepped in whenever the price touched this level.

During this sideways movement, the market became quiet and stable. Volatility dropped, and candles became smaller, showing that selling pressure was weakening. At the same time, the 50-day SMA (green) and the 200-day SMA (red) started getting closer.

This setup creates the chance for a potential SMA cross, which is an important signal that the long-term trend may be changing from bearish to bullish.

MONUSDT Analysis Source: Tradingview

Recently, MON broke above the top of the consolidation zone with strong momentum. This bullish breakout shows that buyers have taken control and want to push the price higher. The breakout candle is large and clear, meaning buyers entered aggressively.

If this momentum continues, MON may start forming a new upward trend after months of weakness.

The RSI is currently around 80, which shows strong buying pressure. However, this level also means the market is overbought.

Overbought conditions do not always cause an immediate reversal, but they often lead to small pullbacks so the market can cool down before moving higher again. Traders should expect some short-term corrections if the price becomes too stretched.

If MON stays above the breakout zone around $0.03–$0.04, the next possible targets are $0.06 and later $0.10, based on past price behavior. Holding above the 50-day SMA will also support this bullish view.

But if the price drops back below the breakout level, MON may return to the consolidation zone and test the lower support at $0.015 again. This level remains the most important support for the bulls.

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