 token saw a massive whale transaction on November 18th which saw the whale hitting massive profits.){kind=link}
Mantra ($OM) token saw a massive whale transaction on November 18th which saw the whale hitting massive profits. According to data from Lookonchain, a whale made 161x return on investment after holding $OM for about 18 months, turning $38.7K into $6.27 million.
The trader initially bought the token from Binance, when the price was just $0.026 last year. However, the whale deposited 600K $OM on November 18th, worth $2.53 million to Binance in order to benefit from the price surge. This has left 889K $OM worth $3.74 million in excess for the trader.
The total profit sums up to $6.27 million, making the ROI 161 times higher. The whale transaction also came at a time when OM price had hit an all-time high just the previous day on November 17th. At the press time, OM is trading at $4.15, up nearly 23.5%, as compared to the same time last day.
OM Price Hits All-Time High
Mantra (OM) saw remarkable increases during the previous week, reaching a new all-time high. According to data from CoinMarketCap, the token has surged over 195% in the past week.
On Sunday morning, OM hit its highest price level of $3.42. One of the main factors influencing Mantra’s pricing has been its late October alliance with the massive cloud computing company Google Cloud. The bullish atmosphere surrounding the token was further bolstered by the increasing whale inflows on November 14th.
Will OM Price Keep Rising In The Future?
OM token has seen good trading days in the past. The rise in OM’s popularity comes at a time when the entire crypto market was seeing a bull run, with Bitcoin prices also reaching all-time high values, OM token is largely in tandem with the broader market.
If investors do bank on this bullish momentum, OM token will likely keep rising in the future. This prediction is also supported by the coin’s market parameters which show that the Fear & Greed Index is currently at 83 (Extreme Greed).
As investor emotions turn bullish, the ROI for Mantra will see a surge in the near-term. Over the last month, Om coin has experienced 14/30 (47%) green days with 26.05% price volatility.
Other technical parameters of the OM token also indicate the same prediction given that at the press time, the coin has 29 bullish signs and five negative signals.
In the upcoming month, MANTRA DAO’s 200-day SMA is expected to grow, reaching $1.590389. By the middle of December 2024, the short-term 50-day SMA for MANTRA is predicted to reach $3.20.
An important parameter and a well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. With the RSI rating at 91.06 right now, the OM market is showing signs of being overbought.