TL;DR

• Mantra (OM) surged over 60% in the past 30 days, hitting an all-time high of $1.50 with analysts predicting a further jump.
• On-chain metrics suggest continued gains, but the RSI indicates it may be overbought, signaling a possible correction.

New Peak for OM

Most of the leading cryptocurrencies have experienced severe ups and downs over the past several weeks. Bitcoin (BTC), for instance, fell to $60,000 at the beginning of October and later rebounded to its current $63,000 (per CoinGecko’s data).

There are a few digital assets, though, whose prices have gone predominantly up as of late. One evident example is Mantra (OM), which has jumped by over 60% monthly. Earlier today (October 7), it hit a new all-time high of almost $1.50, whereas its market capitalization surpassed $1.2 billion.

The token’s achievement caught the eye of multiple industry participants. The popular X user IBCIG claimed OM’s momentum is “truly unstoppable,” expecting a further rally to $2.

“With its purpose-driven tokenomics and a robust Layer 1 foundation, it is by far among the best RWA projects in my portfolio,” they added.

Daan Crypto Trades and Token Sherpa chipped in, too. The former said