The MANTRA (OM) token has experienced a dramatic decline, reaching an all-time low of approximately ₹28.76 as of May 30, 2025. This marks a significant drop from its peak of nearly ₹750 (around $9) in February 2025, representing a loss of over 96% in value.
🧨 What Caused the Crash?
On April 13, 2025, OM's price plummeted from $6.21 to below $0.50 within an hour, erasing over $5 billion in market capitalization. The sudden crash led to widespread speculation about potential causes, including insider dumping, forced liquidations, and centralized exchange actions.
The MANTRA team attributed the crash to "reckless forced closures initiated by centralized exchanges," claiming that several exchanges closed OM holders' accounts without sufficient warning, triggering a cascade of sell-offs.
📉 Aftermath and Current Status
Following the crash, OM's price has struggled to recover, hovering around $0.33 (approximately ₹28.76). The token faces significant resistance at $0.48, with technical indicators suggesting a bearish trend.
In an effort to restore confidence, the MANTRA team has announced plans to reduce the number of internal validators by half, aiming to decentralize the network and regain trust.
⚠️ Investor Sentiment
The crash has left a majority of OM investors at a loss, with 86% reportedly holding the token below their purchase price. The event has drawn comparisons to the 2022 Terra LUNA collapse, raising concerns about the stability of similar projects.
🔮 Outlook
While the MANTRA team is taking steps to address the situation, the path to recovery remains uncertain. Investors are advised to exercise caution and stay informed about further developments.
