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The MANTRA price has surged 27% in the last 24 hours to trade at $0.7662 as of 3:50 a.m. EST on a 38% increase in trading volume to $1.55 billion.
The resurgence comes after MANTRA CEO John Patrick Mullin’s bold pledge to burn the team’s entire 300 million OM token allocation, valued at $236 million at the current OM price.
The teams token allocation are actually vesting only starting in 2027, which is 30 months from mainnet launch (Oct. 24).
I’m planning to burn all of my team tokens and when we turn it around the community and investors can decide if I have earned it back. 🫡🕉️ https://t.co/ZQR1H5xAqF
— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 15, 2025
Mullin’s token burn proposal, aimed at restoring community trust, addresses accusations of insider trading and manipulation that swirled post-crash. He clarified that team tokens, locked until 2027, were not sold and suggested a decentralized vote to finalize the burn.
This whole debacle started on April 13, after a catastrophic 90% OM price crash that wiped out over $5 billion in market capitalization from the token. The rebound, fueled by Mullin’s transparency and recovery plan, has sparked renewed investor interest, with the project’s market cap hitting $743 million.
MANTRA Price Bullish Pennant Setup Signals A Potential 41% Upside
The chart for OM/USDT (1-hour timeframe) shows a classic bullish continuation setup in the form of a pennant or symmetrical triangle, following a massive impulsive move upward. The initial spike took the price from around $0.47 to just over $1.00, which marked the recent swing high.
Since then, price action has been consolidating within a narrowing triangle marked by points A, B, C, and D—indicating market indecision. This pattern, along with decreasing volume, is characteristic of a continuation move, where the market typically pauses before resuming its previous trend, which, in this case, is bullish.
OMUSDT analysis Source: Tradingview
Several Fibonacci retracement levels are drawn from the $0.47 low to the $1.00 high, with the price currently sitting just below the 0.382 retracement level at $0.7971. This level acts as short-term resistance, while the 0.5 and 0.618 Fib levels ($0.7343 and $0.6715) serve as support zones.
A bullish breakout from this triangle, especially with strong volume, could trigger a price surge toward the projected target at $1.1443, representing a 41.68% gain from current levels.
The MACD indicator shows a slight bullish crossover with diminishing red bars on the histogram, suggesting waning bearish momentum. Meanwhile, the RSI hovers around 44, indicating neutral conditions with potential room for an upward move.
Overall, if the price decisively breaks above $0.80, a bullish continuation toward $1.14 looks likely. Conversely, a break below $0.734 could invalidate the setup and shift the bias bearish.
Best Wallet (BEST) Presale Heads For $12M – Next Crypto To Explode?
As the MANTRA recovery rally continues, investors are flocking to Best Wallet (BEST), a promising new crypto project making waves with its presale that has already raised over $11.7 million.
Best Wallet is a non-custodial, multi-chain wallet that offers support for thousands of cryptocurrencies across over 60 blockchains. Its all-in-one ecosystem, which includes a built-in decentralized exchange (DEX), a presale aggregator, and a soon-to-launch debit card that offers up to 8% cashback, sets it apart from other wallets.
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In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
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— Best Wallet (@BestWalletHQ) December 30, 2024
It also includes engaging elements like free spins, loot boxes, and bonuses while keeping transaction fees low, making it practical and fun for users.
The wallet’s standout “Upcoming Tokens” portal has already proven its knack for spotting winners, with past launches like Catslap (SLAP) soaring over 3,000% post-launch.
The platform’s launchpad now supports various innovative projects, such as BTC Bull Token (BTCBULL), a meme coin that rewards its holders with free Bitcoin, and Solaxy (SOLX), a next-gen Solana layer-2 solution that aims to scale the ecosystem.
Prominent crypto analyst ClayBro, with over 136K YouTube subscribers, predicts BEST could surge 10X after its exchange listing,
Holding the BEST token also unlocks exclusive perks such as reduced transaction fees, early access to vetted presales, governance rights, and staking rewards with a hefty 129% APY.
BEST is priced at $0.02475 and can be purchased using crypto or bank cards.
Investors looking to secure the best deal will want to buy before the price undergoes a presale increase in less than 33 hours.
Visit the official Best Wallet website.
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