Mantra Price Prediction: OM Skyrockets as 50 Million Token Airdrop Triggers FOMO

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As a seasoned crypto investor with a deep understanding of the market trends and price actions, I find the recent Mantra price prediction particularly intriguing. The token’s impressive 36% surge in the past week, including a 2.4 increase in the last 24 hours to trade at $1.30, is noteworthy. This price rise comes as Season 2 of Mantra GenDrop begins, and the market activity has noticeably picked up with the daily trading volume spiking by 3.7% to reach $106 million.

The price forecast for Mantra token is optimistic, with a 36% increase over the past week and a 2.4% gain in the last day, pushing the token’s value up to $1.30. This bullish trend emerges during the commencement of Mantra GenDrop Season 2. The daily trading volume for Mantra experienced a noticeable surge of 3.7%, amounting to $106 million, suggesting a recent increase in market engagement.

Mantra Price Prediction Hints 38% Extended Gains, But Not Before This Happens

Mantra Price Prediction: OM Skyrockets as 50 Million Token Airdrop Triggers FOMO

In 2024, OM has been among the top-performing cryptocurrencies, with its price increasing by more than 7400% from its record low in October 2023, according to CoinGecko. The upward trend of OM’s price is evident as it hovers above its 21-day, 50-day, and 200-day simple moving averages, suggesting a robust bull market.

As an analyst, I’ve observed that Mantra’s OM price remained in a protracted consolidation phase for approximately 115 days leading up to its breakout on July 14. Following this breakout, the asset reached an unprecedented peak price of $1.41 on July 16. However, it subsequently experienced a slight pullback. According to Mantra’s price prediction model, the asset could potentially surge by approximately 38% and reach a new high of $1.80. Post this potential rise, there might be a retest to the resistance level around $1.05.

As a researcher studying the stock market performance of OM, I would note that should market conditions shift to bearish terrain, the price of OM might discover a degree of support around the upper boundary or even within the vicinity of its 50-day ($0.88) and 200-day ($0.6) Simple Moving Averages.

Mantra Price Prediction: Technical Indicators Show Potential Correction Before New ATH

Mantra Price Prediction: OM Skyrockets as 50 Million Token Airdrop Triggers FOMO

The Chaikin Money Flow stands at 0.26, signaling that the asset is experiencing a strong uptrend due to increasing buying pressure. This particular oscillator has surpassed 0.15 on just two occasions since its launch in March 2021, making the current rally a notable exception.

As a crypto investor, I’m closely monitoring the relative strength index (RSI) of a particular token or coin I’ve invested in, which currently stands at 78.84. Based on my experience and understanding of technical analysis, an RSI reading above 70 is generally considered overbought territory. This implies that the asset has been bought more than it has been sold in recent periods, leading to a potential reversal or correction in price. Moreover, the overbought zone often coincides with heightened bullish sentiment, resulting in increased volatility for the token or coin as long as the RSI remains within this range.

Mantra Price Prediction: OM Skyrockets as 50 Million Token Airdrop Triggers FOMO

The MACD indicator, which signals a bullish trend, currently finds itself in a resistance area. A potential shift towards bearishness could ensue following this encounter with resistance.

GenDrop Season 2 Begins, 50 Million OM Up for Grabs

As I analyze the current state of Mantra’s GenDrop, with only a few hours left before the end of season 1, I want to share some exciting news. The Layer One (L1) RWA chain has officially initiated the commencement of GenDrop season 2.

BREAKING: Season 2 of #MANTRA 50,000,000 $OM GenDrop starts on 17th July
Get started on
Early participants on will receive exclusive rewards.
In under 48 hours, Season 1 Snapshot of the leaderboard…
— MANTRA – Tokenizing RWAs (@MANTRA_Chain) July 15, 2024

The GenDrop will distribute 50 million OM ($63.8 million) to participants as rewards. 

Two weeks ago, Mantra DAO unveiled plans for a collaboration with Dubai-based real estate developer MAG Group. The goal is to tokenize approximately half a billion dollars’ worth of real estate assets using the Mantra DAO platform.

In the past 24 hours, the data from Etherscan reveals a 0.033% rise in the number of unique OpenMeta (OM) holders, bringing the total to approximately 11,985.

Bottom Line

The price of Mantra’s OM token reached a record high following the news of a 50 million token giveaway, igniting FOMO among investors and potentially causing a 38% price surge for Mantra in the near term. According to predictions, this significant distribution is generating heightened attention and desire for OM tokens.

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2024-07-17 09:10