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

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.

OM MACD

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?

OM’s Season 2 GenDrop will distribute 50 million OM tokens, valued at $63.8 million, as rewards to participants. This initiative aims to incentivize engagement and participation within the OM community by offering significant token rewards.

2. When did Mantra (OM) hit its all time high?

Mantra (OM) reached its all-time high on July 16, 2024, with the price hitting $1.38322.

3. What is FOMO?

FOMO stands for "Fear of Missing Out." It is a psychological phenomenon where individuals experience anxiety or apprehension that they are missing out on rewarding experiences that others are having. This fear often drives people to engage in activities or make decisions based on the concern that they might be left out of something beneficial

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

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