• OM token plunged 90%, wiping out $5B in value as whale liquidations sparked manipulation rumors.
  • Founder JP Mullin announced a buyback and token burn plan to restore investor trust and stabilize OM’s price.


Mantra (OM) is at the center of major turbulence after its token price crashed from around $6 to below $0.70, erasing billions in market value. Speculation of manipulation and whale sell-offs intensified community concerns, pushing OM into a storm of volatility. In a public statement, founder JP Mullin confirmed that a token burn program is nearly finalized, and a buyback initiative is actively underway. These moves aim to reduce token supply and inject new liquidity into the project. OM partially recovered to $0.69 following Mullin’s remarks, but it remains far below pre-crash levels. While the community clings to hope for a rebound, the risks around OM remain high—especially given ongoing manipulation claims. As always in crypto: caution is king, and clarity is gold.