MANTRA (OM) Token Sees Surge in Whale Activity and Daily Active Addresses as Price Rises

MANTRA is a security-first real-world assets (RWA) Layer 1 blockchain designed to meet regulatory requirements, targeting institutions and developers.

Highlighting key metrics and technical analysis for MANTRA (OM) in the past week.

Key Metrics

Surge in Whale Activity: In the past week, several large transactions have been made by whales, indicating bullish sentiment. One whale withdrew 1.2 million OM from Binance, while another took out 2.71 million OM (about $3.8 million) after a seven-month pause. In total, whale net inflows also amounted to 2.39 million OM, around $5.75 million.

Increase in Daily Active Addresses: Daily active addresses have surged by 573% over three days, reflecting heightened trading activity and investor enthusiasm, largely due to excitement about an upcoming airdrop.

Technical Analysis

Closing weekly above $4.50 would signal further bullishness. OMUSD has surged over 240% in the past week, sitting above both short-term (21 and 55 EMA) and long-term moving averages. After hitting a high of $4.52, it is currently trading at approximately $3.90.

bullish trend could reverse if the price falls below $2.50, with near-term support at $3.65. Breaks below could target $3.25, $2.78, or $2.50, with $1.88 as the ultimate downside target.

Buying Strategy for Traders

The near-term resistance sits at around $4, with breaks potentially leading to further gains. A jump to $4.52 or $5 is feasible, and surpassing $5 could reach $6. It’s recommended to buy on dips around $3.50, placing a stop-loss at $2.50 for a target price of $6.