A device may receive machine-to-machine (M2M) traffic associated with two or more M2M applications. The M2M traffic may include information that identifies two or more priority levels associated with the M2M traffic. The device may determine parameters associated with managing the M2M traffic. The device may determine a traffic rate, an overall holding time, and an outgoing traffic rate associated with the M2M traffic. The device may determine a normalization factor based on the overall holding time and the parameters. The device may determine a set of priority level holding times based on the normalization factor, the overall holding time, and the parameters. Each priority level holding time may be associated with a priority level of the two or more priority levels. The device may manage the M2M traffic based on the set of priority level holding times and the outgoing traffic rate.