MANTRA has taken a bold step toward ecosystem stabilization by initiating a massive 300 million token burn. CEO and founder John Patrick Mullen is personally contributing 150 million tokens from his team’s allocation, while the broader team is burning an additional 150 million. This reduces the total supply from 1.82 billion to roughly 1.67 billion, cutting staked tokens from 578 million to 421 million.
This strategic move responds to ongoing market challenges and bearish price action. While reducing supply can ease selling pressure, it's unclear if it’s enough to reignite investor confidence. The euphoric highs of late 2024 are unlikely to return purely through supply manipulation—those gains were driven by sentiment and excitement that can’t be replicated by tokenomics alone.
Despite the significance of the burn, many see it as part of a longer-term recovery plan rather than an immediate price catalyst. With altcoin markets still sluggish, even big moves have struggled to reverse broader trends.
$OM Price Outlook
Currently trading at around $0.545, $OM has shown modest recovery post-announcement. Key resistance sits at $0.560—breaking above could pave the way to $0.590 if market sentiment improves. On the downside, support is holding near $0.517, with a break lower potentially testing $0.505. While the burn adds a bullish narrative, a sustained uptrend will require stronger volume and broader market support.
Solaxy Presale Gains Momentum – A MANTRA Alternative?
Meanwhile, investor interest is shifting toward presale opportunities like Solaxy, a Layer 2 project on Solana aiming to bring scalability and efficiency to the meme coin space. With over $31 million raised and 129% staking rewards, Solaxy is making a name for itself beyond its meme coin origins.
The project’s vision includes supporting high transaction volumes and offering infrastructure for meme coins with real utility. Recent updates include:
Solaxy Block Explorer launching on April 19th
Sustained 140KB/s throughput under optimal conditions on Solana
CLI enhancements for smoother developer interaction
Targeting 10,000 TPS for rollup performance
Improved SDK bridging and bug fixes for better Layer 1 compatibility
The $SOLX token is currently priced at $0.001702. Buyers can participate using wallets like Best Wallet, with options to pay via crypto or fiat and stake tokens post-purchase.
While listings on major exchanges like Binance may be distant, initial availability on decentralized and mid-tier centralized exchanges is likely. Unlike many hype-driven meme coins, Solaxy is presenting itself as a long-term player with real tech and community focus.
Conclusion
The MANTRA burn may support long-term holders but isn’t expected to dramatically shift $OM’s price in the short term. In contrast, Solaxy is gaining traction through strong fundamentals, developer progress, and growing investor confidence—potentially positioning itself as a standout in the Solana ecosystem.
