Thursday, October 10, 2024
7.9 C
London

Cryptocurrency: This Coin Spiked 6,000% in Just 1 Year

An obscure cryptocurrency named Mantra (OM) was launched in August 2020, sharing the same release year as Shiba Inu. OM was launched at $0.40 during its inception but plummeted to $0.04 between 2021 and 2022.

It delivered relatively losses for 24 months, but its fortunes changed in 2023. Investors who took the dips during its fall two years ago could have made massive profits today.

Also Read: Gold Prices Moving Toward $2,950: Analyst Explains

Mantra (OM) Performance And Future Prospects

Source: Binance Academy

Phenomenal Gains In The Last Year

The cryptocurrency shot up nearly 6,000% in the last 365 days, printing phenomenal gains for investors. If traders had taken an entry position the previous year, an investment of $1,000 could have turned into $61,000 today. The chart shows Mantra (OM) touching the skies with minimal dips for a year.

Also Read: Top 3 Cryptocurrencies Under $1 For The Long Term

Current Trading Status

It had reached an all-time high of $1.41 in July this year and is currently trading at $1.08. The cryptocurrency is down close to 23% from its ATH but still attracts bullish sentiment in the indices. OM is up close to 6% in the 24-hour day trade with a daily trading volume of $34 million.

What Next For the Mantra (OM) Cryptocurrency?

Source: ZebPay

Analyst’s Forecast

Leading pseudonymous cryptocurrency analyst Altcoin Sherpa recently took to X forecasting Mantra’s (OM) next price. The analyst called the token a “strong project” as its price has not budged even during the recent downturn.

This puts the cryptocurrency on the must-watch list as it could have more upside swings. It still has the steam to deliver and could hit a new price target in the coming months.

Also Read: UK’s Landmark Crypto Bill: A Game-Changer for Bitcoin Holders

$OM still is in the same trading range and has held up way better than most other alts. I’m still in this one as a RWA bet for this cycle and I think that we’ll still see some more chop for a bit before the next leg up. Strong project IMO. pic.twitter.com/uKRj2R2Xqt

— Altcoin Sherpa (@AltcoinSherpa) September 3, 2024

“OM still is in the same trading range and has held up way better than most other alts. I’m still in this one as a RWA bet for this cycle and I think that we’ll still see some more chop for a bit before the next leg up. Strong project IMO,” he tweeted about the cryptocurrency.

Hot this week

Trump’s World Liberty Financial Eyes Launch on Aave Ethereum Mainnet

Former US President Donald Trump’s newest crypto project, World...

We, Robot – The Tesla Robotaxi Reveal Is Here

Since its inception, Tesla has continually pushed the boundaries...

Bitcoin Braces for Further Downside as US Government Prepares to Unload Silk Road Holdings

The cryptocurrency market is teetering on the brink of...

How to Watch Videos with JDownloader Kemono?

Your guide: How to Watch Videos with JDownloader Kemono? Access...

Stripe Re-enters Crypto Arena, Enabling USDC Payments for US Businesses

Merchants can now accept USD Coin (USDC), a stablecoin...

Topics

Trump’s World Liberty Financial Eyes Launch on Aave Ethereum Mainnet

Former US President Donald Trump’s newest crypto project, World...

We, Robot – The Tesla Robotaxi Reveal Is Here

Since its inception, Tesla has continually pushed the boundaries...

How to Watch Videos with JDownloader Kemono?

Your guide: How to Watch Videos with JDownloader Kemono? Access...

Stripe Re-enters Crypto Arena, Enabling USDC Payments for US Businesses

Merchants can now accept USD Coin (USDC), a stablecoin...

Polymarket Mystery Trader Boosts Trump’s Election Chances by 13%

On Polymarket, the odds of Donald Trump reclaiming the...

Ripple to Expand Crypto Storage Services to Banks

In an important development for the firm, Ripple Labs...

Star Health Data Breach: Hacker Claims CISO Sold Data to Him

Star Health data breach incident is taking a dramatic...
spot_img

Related Articles

Popular Categories

spot_imgspot_img