Traders have shown increasing interest in real-world asset (RWA) tokens in the last quarters of 2023, leading to a significant market capitalization surge. One notable player in this market is the Mantra (OM) token, which is gearing up for another substantial price increase.
Growing Interest in RWA Tokens
In the last months of 2023, traders have shown considerable interest in RWA tokens, triggering a bullish trend in the market. The market capitalization of such tokens skyrocketed from around $2 billion to $57.60 billion by the end of Q1 2024. Since then, the market has faced a significant pullback and remained under deep bearish influence.
Mantra (OM) Prepares for a Strong Rally
After experiencing more than a 3000% rise in the first days of 2024, the Mantra (OM) token saw a 38% pullback. However, after reaching levels last seen in June, the token is now gearing up for a massive upswing. According to the latest platform update, the token's mainnet is expected to launch next month, potentially triggering ‘OMtober.’
Mantra (OM) Price Prediction
Since the start of the bull run, OM price has been trading within a rising parallel channel, rebounding from lower support. The token registered a 15% rise during the last trading day, intending to reclaim $1. Supported by a team of over 100 people, OM is expected to become the leading project in the RWA space. Technical indicators like DMI and RSI also suggest a possible revival of a strong ascending trend, with potential for the price to rise beyond $1.22 in the coming days.
In conclusion, the Mantra (OM) token shows signs of recovery and is poised for significant growth in the near future amid growing interest in the RWA market and the upcoming mainnet launch.
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