#OMCoin Trading at approximately $0.44, reflecting a modest daily gain of about 3.4% . This comes after a dramatic 90% plunge from its all-time high of $8.99 earlier this year, triggered by forced liquidations and concerns over market liquidity .

Following its sharp decline, OM has shown signs of stabilization. The RSI dipped below 20, indicating oversold conditions and potential for a short-term rebound . However, OM is forming a bear pennant pattern, which could signal further downside if support levels fail

Recent on-chain data revealed that a major holder deposited 2 million OM tokens into Binance, realizing a loss of over $25 million . Such significant sell-offs by large holders have intensified market volatility and raised concerns among investors.

MANTRA announced a surprise burn of 300 million OM tokens to reduce supply and potentially boost staking rewards . While this move aims to restore investor confidence, analysts caution that it may not be sufficient to counteract the negative sentiment and structural issues facing the token .
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