Mantra (OM) is back in the spotlight, this time for all the wrong reasons. After a jaw-dropping 90% crash two days ago, the token lost nearly $3.5 billion in market value. At writing, OM price is still struggling, down another 20.53% over the past day and trading around $0.6143. Trading volume has also been cut in half, showing just how cautious the market has become. Now, traders are closely watching charts, community chatter, and updates from the team to figure out what comes next.
The price drop didn’t come out of nowhere. OM had been moving inside a rising wedge pattern from November 2024 to early April 2025, a setup that usually ends in a breakdown. That’s exactly what happened earlier this month, with a huge red candle on the daily chart confirming the selloff. The price of OM tumbled from over $6.00 to below $0.70 in a single session.
Since that breakdown, the chart has shown no clear support levels below, which means OM has entered what’s known as price discovery. That’s when the market is trying to figure out a new bottom. Analysts are now eyeing key psychological zones around $0.50, $0.33, and possibly even below $0.20 if the bearish momentum continues. For any real recovery to start, OM price would need to climb back above $1.00 or even $2.00, but that’s looking like a tall order for now.
What you'll learn 👉
Mantra Community Reacts to Collapse and Ongoing Uncertainty
The incident drew comparisons to past market collapses, including Terra Luna. A widely circulated claim on X alleged that the Mantra team dumped their token allocation, representing around 90% of the circulating supply. Adding to the confusion, Mantra’s official Telegram group was deleted, prompting fears of abandonment.
However, Mantra stated on its X account (@MANTRA_Chain), directing followers to a community update shared by co-founder JP Mullin. The team denied any involvement in the selloff, attributing the crash to “reckless liquidations.” They affirmed their ongoing commitment to the project and promised further updates.
For an update on the latest on $OM’s market movements, please refer to our latest community update from @jp_mullin888. We’ll be providing further updates in the coming hours and days, to discuss these events further. We greatly appreciate the support that we have received over…
— MANTRA | Tokenizing RWAs (@MANTRA_Chain) April 14, 2025
Mantra Short-Term Price Outlook Remains Fragile
OM price is attempting a minor recovery, but the rebound appears limited. Price action continues to suggest a possible dead cat bounce rather than a sustained reversal. With daily trading volume also declining by nearly 50%, market interest remains subdued.
The technical setup indicates that OM may struggle in the coming weeks unless a clear catalyst reverses current sentiment. Until stronger support is established, the market may test lower levels.
Read Also: Why XRP Price May Not ‘Go Parabolic’ Post-SEC Settlement
Furthermore, while the team maintains confidence in the project’s fundamentals, the abrupt price movement and mixed narratives have shaken investor trust. The lack of verified details around the crash adds to the uncertainty. Market participants are now monitoring for official audits or transparency reports that could restore confidence.
Without meaningful support zones or consistent buying pressure, OM’s price outlook remains cautious. Investors and traders are advised to follow the official MANTRA accounts for verified updates and avoid third-party sources during this period of instability.
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