Mantra (OM) yesterday dropped 90% and became the most significant sudden drop of a cryptocurrency since Terra Luna in 2022. It lost 6 Billion USD in Market Cap in 3 hours.

Everything indicates that it was a move made by whales who went to sell a good amount of the supply on OKX.

This is unusual because such 90% drops are not typically normal for a token that was Top 20 on CoinMarketCap (Now it is #88).

The distribution of the Tokens was also quite centralized, which may have allowed for an exit liquidity.

By the way, there are many who say that it is a good time to enter (I don't quite agree).

My Conclusion: I don't believe this is either a Rug Pull or a scam. It's simply people taking profits from their positions against others, and as the market is, there are people who win and people who lose.