Mantra Price Prediction: OM Skyrockets On 50 Million Token Airdrop
Highlights
- OM price prediction shows the asset may extend gains by 38% to hit $1.80
- Season 1 of Mantra’s GenDrop will end in the next 48 hours in a snapshot.
- OM’s season 2 GenDrop will distribute 50 million OM ($63.8 million) to participants in rewards.
The Mantra price prediction looks bullish, as the token surged 36% in the past week, including a 2.4 increase in the last 24 hours to trade at $1.30. The price rise comes as Season 2 of the Mantra GenDrop begins. OM’s daily trading volume spiked by 3.7% to reach $106 million, signaling a recent uptick in market activity.
Mantra Price Prediction Hints 38% Extended Gains
OM is one of the best-performing crypto assets in 2024, having risen over 7,400% since its all-time low in October 2023, per CoinGecko. The OM price action is trending above the 21-day, 50-day, and 200-day simple moving averages (SMA), confirming the bullish uptrend.
The OM price was in an extended consolidation zone for the last 115 days before it broke out on July 14. The asset hit an all-time high price of $1.41 on Tuesday, July 16, before slightly retracing. Mantra price prediction shows the asset may extend gains by 38% to hit $1.80 but after a retest to the top of the range around $1.05.
Nevertheless, if the market conditions turn bearish, the price of OM may find support around the top of the range or inside near the 50-day ($0.88) and 200-day ($0.6) SMAs.
Technical Indicators Show Potential Correction Before New ATH
The Chaikin money flow is at 0.26, indicating the asset is in an uptrend as the buying pressure increases. This oscillating indicator has exceeded 0.15 only twice since OM launched in March 2021, making the current rally exceptional.
The relative strength index (RSI) is at 78.84, indicating OM is overbought and a reversal is due soon. The overbought zone is also associated with high bullish momentum; hence, OM price may experience high volatility as long as the RSI is in this zone.
The moving average convergence divergence (MACD) is still bullish, although it is at a zone of resistance, which may soon result in a bearish reversal.
GenDrop Season 2 Begins, 50 Million OM Up for Grabs
As season 1 of Mantra’s GenDrop winds down in the next 48 hours, the Layer One (L1) RWA chain has already announced the start of Season 2.
🚨BREAKING: Season 2 of #MANTRA 50,000,000 $OM GenDrop starts on 17th July
✅ Get started on https://t.co/hWhz3xVRKb https://t.co/fdNVk8DoVM
👀 Early participants on https://t.co/hWhz3xVRKb will receive exclusive rewards.
In under 48 hours, Season 1 Snapshot of the leaderboard… pic.twitter.com/0ghdW6TR96
— MANTRA – Tokenizing RWAs (@MANTRA_Chain) July 15, 2024
The GenDrop will distribute 50 million OM ($63.8 million) to participants as rewards.
This comes just two weeks after Mantra DAO announced a partnership with Dubai real estate developer MAG Group to tokenize $500 million worth of real estate assets.
Data from Etherscan shows that the number of OM holders increased by 0.033% in the last 24 hours to 11,985.
Bottom Line
Mantra’s OM token price surged to a new all-time high as the announcement of a 50 million token airdrop sparked widespread FOMO (Fear of Missing Out). The Mantra price prediction suggests that this substantial distribution is driving increased interest and demand for OM and may lead to 38% short-term extended gains for Mantra price.
Frequently Asked Questions (FAQs)
1. How big is the OM’s season 2 GenDrop?
2. When did Mantra (OM) hit its all time high?
3. What is FOMO?
- Tom Lee’s BitMine Adds $820M Worth of Ethereum as ETH Rebounds
- Crypto Crime Hits $2.47 Billion in H1 2025, With Wallet Hacks on the Rise
- ASTER Token Rockets Over 10% in an Hour as Binance Announces Spot Listing
- Whale Dumps Massive $55 Million in XRP to Ripple as Coin Falls Below $3?
- Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
