Rumours the Italian is about to be axed and replaced with Malaga coach Manuel Pellegrini have gathered momentum since Friday, the eve of City's shock FA Cup final loss to Wigan.
Mancini hit out at City officials for failing to extinguish the speculation after that humbling defeat at Wembley but there has been no comment from the club since.
The mood contrasts sharply with that of exactly a year ago, when City beat QPR in thrilling fashion to win the Barclays Premier League.
Mancini was rewarded with a five-year contract after that victory but his failure to build on last season's achievements has seen his position come under regular scrutiny.
Despite the rumours, Pellegrini has denied he has an agreement in place with City. The Chilean's agent was reported to have met with City director of football Txiki Begiristain last month.
He has made known he is to leave the club, whom he guided to the Champions League quarter-finals, at the end of the season but has dismissed City talk.
The former Real Madrid and Villarreal boss, speaking after Malaga's game against Sevilla on Sunday, told reporters: "I deny here and now being the new coach of Manchester City, I haven't signed any agreement with anybody.
"I've been fortunate enough, and very proud, that every year the big clubs have shown an interest in me. I have an agreement with Malaga not to talk to anyone and nothing has been agreed with any other club.
"I hope in the coming weeks that things will become a little clearer what is going to be the future here at this club."