Whales have been loading up on $OM long before April’s 90 % crash. Back in February they added 15.6 million tokens (about $93 million) in one week, pushing the price to roughly $6—a 70 % jump in just 17 days. Early March brought another 20 million-token buy worth $143 million, this time collected from Binance wallets. Price dipped 8 % on that news and slipped below a rising-wedge pattern, hinting that profit-taking might be starting.

The real shock came in April when #om fell from $6 to $0.64. On-chain data shows whales quickly began buying that dip, and wallets tracked by Santiment have kept accumulating through May. Recent whale alerts show fresh buys around $0.41–0.42, though volumes are lower and risk scores have dropped, suggesting they’re now more cautious.

Why the interest? #mantra is positioning OM as a real-world-asset play: it has a Dubai VASP licence, a $1 billion DAMAC deal, and support from Middle-East funds. Low token concentration (0.13 %) keeps the network harder to manipulate, and partnerships could lift demand if the $16 trillion RWA market grows. Still, the April collapse proved centralized-exchange liquidations and sudden whale exits can spark brutal corrections.

If accumulation holds, a rebound above $1 is plausible, with $6.47 the big level to reclaim for a full recovery toward the old $7.50 target. Lose buying momentum, though, and OM could revisit $0.30 or lower. Big players are clearly in the game; the question is whether they keep adding—or decide to cash out again.