Last week, the token of the Mantra ecosystem experienced a crash of more than 90%, leaving the entire crypto community in shock. The Mantra team immediately spoke up and has specific action plans to restore trust and the value of OM:
Release an analysis report on OM price fluctuations
Plan to buy back tokens and burn them to reduce circulating supply
Affirm that there is no internal sell-off, no 'rug pull', and the team's tokens are still locked according to the public schedule.
This is one of the rare moves from a project after a severe token crash – and it signals that the team is not abandoning the community.
Immediately after the news about the buyback and burn plan spread, the price of OM saw a strong rebound from the bottom, indicating a significant buying force entering.
Currently, OM is trading around $0.78 with a daily range of about $0.57 – $0.91. This shows that after the severe crash, the community has started to 'buy the dip' and signs of recovery are gradually appearing.
Instead of expecting the price to continue the downtrend to lows like 0.2–0.3 USD, some analysts and traders expect that if the burn and buyback plan is implemented simultaneously with reinforcing community trust, there could be a strong upward momentum in the near future.
Expected target (if the burn and buyback plan is successfully implemented and market sentiment recovers):
TP1: $1.00
TP2: $1.40
TP3: $1.80+
⚠️ Absolutely do not go all in – Manage risk very tightly!
Despite the large recovery potential, this is still a project that has undergone a terrible crash. Therefore, the recommended investment strategy is:
Only invest with an amount you can afford to lose, avoid 'all in'
Set a Stop Loss (SL) when the price drops below $0.65 to protect capital if the market continues to adjust.
Do you think the information released by Mantra aims to salvage the current situation or is it a scam to prepare for the next dump? =))