OM Token Crash: What Happened? 💥
On April 13, 2025, the OM token price dropped by ~90% from $6.30 to $0.37-$0.58. Here's a summary:
*Causes*
1. *Team's Explanation*: Blamed "reckless liquidations" by a large investor.
2. *Community Speculation*: Some believe the team dumped millions of tokens, causing panic selling.
*Impact*
1. *Market Cap*: Fell from $6 billion to $485-$644 million.
2. *Trading Volume*: Spiked to $113M-$368M in 24 hours.
3. *Investor Losses*: Devastating losses reported.
*Team Response*
1. *Denial*: Team denied dumping allegations.
2. *Investigation*: Claimed to be investigating.
3. *AMA Session*: Scheduled to address concerns.
*Current Status*
1. *Price*: ~$0.52-$1.00 (down ~93% from ATH).
2. *Sentiment*: Mixed - some call it a scam, others see a buying opportunity.
*Risks*
1. *Centralized Control*: Low liquidity and centralized control can lead to crashes.
2. *Speculative Markets*: Crypto markets are highly speculative.