![Why is MANTRA (OM) Price Up By 60%?](https://captainaltcoin.com/wp-content/uploads/2024/01/P2P-Review-61.png)
The price of MANTRA has been going up, spiking by more than 16% today and 100% in the last 7 days. The price is now moving upward again after a period of consolidation and then downward trading on the 4 hours timeframe. What has been making the price spike?
Community Support Drives Optimism
X user @killerg124, named Rayan, posted that the MANTRA token $OM appears ready for a significant price increase, stating “Breakout confirmed!” This indicates bullish sentiment amongst investors and traders that the token’s price uptrend will continue.
![](https://captainaltcoin.com/wp-content/uploads/2024/02/image-395-1024x436.png)
Additionally, the official MANTRA X account @MANTRA_Chain shared news that a DAO governance proposal was passed with 99.95% approval to make $OM the native token of the MANTRA blockchain. This shows overwhelming support from the decentralized community to further utilize $OM within the ecosystem.
Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Influencers Foresee Exponential Growth Potential
X user @marlies_veen, named Marlies van Veen, boldly predicted that the current $3 million market cap altcoin is poised for significant gains in 2024, even calling it “a gem” with a “far better” roadmap than most top crypto projects. Comments like these from influencers in the space can draw further attention to lesser-known tokens like $OM and feed investor hype.
Taken together, these positive signals appear to be driving increased demand and thus rate spikes for $OM so far this week. With community and influencers on board, 2024 could see this altcoin gain much more traction.
You may also be interested in:
- Ripple Is Not Dead: Why You Should Continue Holding XRP Despite Its Free Fall Against Bitcoin
- Leading Crypto Expert Revises Solana and COTI Price Analyses and Predictions
- Next-Gen vs. Established Crypto: How DeeStream (DST), Cosmos (ATOM) and Bitcoin Cash (BCH) Look to Deliver
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.