MANTRA

<p><strong>Date:</strong> Thu, Oct 24, 2024, 07:45 AM GMT</p><p>In the cryptocurrency market, Mantra (OM), one of the leading Real World Assets (RWA) tokens, has experienced a dip of 9% in the past seven days. Currently trading at $1.40, this comes after an impressive rally. Since September 1st, Mantra (OM) steadily climbed from $0.88 to reach a new <a href="https://coinsprobe.com/aptos-and-mantra-on-the-edge-of-a-major-rally-heres-what-to-watch/" rel="noopener noreferrer nofollow">all-time high</a> of $1.62 on October 14, marking an 88% surge. Despite the recent pullback, OM still shows a 20% gain over the last 30 days.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/f277ebfef01544ec9bdb6a075087fc4c.png" />Source: Coinmarketcap</p><h2 id="header-0">Why Did Mantra (OM) Dip?</h2><p>The dip in Mantra (OM) seems to be a classic case of “buy the rumor, sell the news.” In September, the Mantra team <a href="https://coinsprobe.com/mantra-brings-real-world-assets-onchain-with-mainnet-launch/" rel="noopener noreferrer nofollow">announced </a>the launch of their highly anticipated mainnet set for October. This sparked excitement among traders, leading to a price rally as people bought in anticipation of the event. However, after OM hit $1.60, some traders likely decided to exit, taking profits before or around the mainnet launch. As the launch approached, this selling pressure contributed to the recent price drop.</p><h2 id="header-1">Mantra Finally Launches Its Mainnet</h2><p>On October 23, MANTRA successfully <a href="https://www.mantrachain.io/resources/announcements/mantra-launches-mainnet-to-tokenize-real-world-assets" rel="noopener noreferrer nofollow">launched </a>its mainnet, marking a major milestone for the platform. The pivot to Real World Assets is a big step forward, aiming to bring real-world assets on-chain and integrate traditional finance with blockchain technology. With the mainnet live, Mantra’s native token, $OM, will be used to fuel the platform’s ecosystem.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/a476b8f2ed2049ff85f5cee5f8fc2de4.png" />Source: Mantra chain</p><h2 id="header-2">What’s Next for OM?</h2><p>Currently, OM is hovering at $1.38, which falls within a key support zone between $1.36 and $1.41. If OM manages to break above this level, the next target could be its previous all-time high resistance at $1.62, which is still a potential 17% gain from the current price.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/63f5be634f95489eb4aff8310cd14eb0.png" /></p><p>Investors will be watching closely to see how the mainnet development unfolds and whether it can push OM back to its previous highs.</p><p><strong>Disclaimer</strong>: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/top-memecoins-popcat-and-mew-smash-new-ath-with-double-digit-gains-is-the-rally-just-beginning/" rel="noopener noreferrer nofollow">Top Memecoins POPCAT and MEW Smash New ATH With Double-Digit Gains: Is the Rally Just Beginning?</a></p>

Why Mantra (OM) Took a Dip After Hitting New All-Time High?

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