Market Breakdown: The Fall of Mantra (OM)
In one of the most dramatic crashes seen in recent crypto history, Mantra (OM) experienced a massive price collapse just hours ago. While this may have caught many by surprise, there were warning signs—especially for those watching closely.
Here’s what happened:
OHM has long been considered a heavily manipulated token. Despite bearish market conditions, it remained unusually strong—largely due to market makers and insiders controlling over 90% of the token supply.
The rise from $1 to $8.5 occurred mostly on low volume, signaling a fragile foundation.
Allegations surfaced about OTC (over-the-counter) deals involving millions of OHM tokens. It’s unclear whether those tokens were sold to external parties who then dumped them, or if the team themselves began the selloff.
What followed was a massive dump, likely triggered by insider liquidation. The project’s Telegram was reportedly shut down, and trust appears to have vanished overnight.
What does this mean now?
The project looks dead. A return to previous levels seems impossible without a major fund intervention or acquisition.
A short squeeze is still possible due to heightened volatility and potential over-leveraged short positions. But make no mistake: trading OHM now is pure speculation, not investment.
This incident is a harsh reminder about altcoin risk. Centralized supply, poor transparency, and insider dominance can lead to total wipeout—even for seemingly solid projects.
Final Thoughts: Mantra (OM) might go down as another cautionary tale in crypto. If you’re holding altcoins, diversify. Stay vigilant. And always be skeptical of low-volume pumps.
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