MANTRA’s OM (OM) token plunged 90% over the weekend, and rebounded, and rebounded in response to the project team’s active response to the charges of lug full fraud.
As the co -founder solves concerns, OM doubles 200%.
As of April 14, OM traded at $ 1.10 and was almost 200% higher than the lowest level after a $ 0.37 collision a day before.
OM/USDT daily price chart. Source: TradingView
The rebound came after Mantra solved the charges of lugs.
Co -founder JP MULLIN reassured the community that this project continued to be activated and the official telegram group pointed out “still online.”
Mullin said, “We will not go anywhere here. He’s a conflict of OM as a” reckless forced closure that started by the centralized exchange. “
source: JP Merlin
The guarantee calmed OM token, which has a market cap of more than $ 5 billion and cleared its future status of $ 75.9 million a day.
Numerous online commentators insisted that the MANTRA team had controlled 90%of the token supply, claiming that the sale was coordinated in suspicious OM transfer as a centralized exchange just before the crash.
source: Altcoingordon
Analyst ED also argued that the MANTRA team used his OM holding to secure high -risk loans in a central response.
He pointed out that sudden changes in the platform’s loan risk parameters contributed to the rapid decrease in the tokens, causing margin calls.
source: Ed
The exchange adjusts the loan risk parameters to manage the market volatility and protect itself from potential bankruptcy due to the fall in mortgage value. Centralized exchanges, such as OKX, have changed their parameters since MANTRA’s tokenomics update in October 2024.
In particular, MANTRA doubled the total supply of OM tokens to 888,888,888. It has been further converted from the capped into an unknown inflation model with an annual inflation rate of 8%initially.
source: U block chain
OKX CEO Star XU ~ Called ~ Mantra added that he will publish a report on future conflicts with a “big scandal”.
OM BOUNCE can be similar to LUNA’s bullshit.
200% rebounds at the lowest level of $ 0.37 can look impressive, but the structure is very similar to the classic bull ship patterns found in Terra’s Luna Despacy in May 2022.
The price of the OM has fallen near $ 3.25, with the 50 -week index moving average (50 week EMA; Red Wave), and is currently testing about $ 1.08 resistance in the 200 -week EMA (The Blue Wave).
OM/USDT weekly price chart. Source: TradingView
Meanwhile, OM’s weekly relative intensity index (RSI) fell to 33.31, signaling weakness and increasing the risk of another failure.
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This setting strongly reflects the behavior after the conflict of LUNA. After a sharp decrease in May 2022, the price was shorter, but it was a deeper and extended decline due to the failure to recover the 50 and 200 weeks moving average.
LUNA/USD weekly price chart. Source: TradingView
OM is now facing skepticism despite the temporary bounce, and chart, AmicatCrypto, said MANTRA token could drop 90%within a day after the rally for 100 days.
“If you ask if the bull market is over. A short answer. Yes,” she added.
“All profits at this point are considered bounce.”
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.