Well, we have already covered the news that the OM token, native to MANTRA, just lost close to 90% of its total value. This has to be one of the most shocking dips in cryptocurrency history.
On Sunday, April 13th, the token took a nosedive, rapidly plummeting from $6.30 to $0.38.This drop erased billions of dollars from the exchange and sparked a heated situation in the community. Could this result from a rug pull, or is it something more sinister?
At press time, MANTRA is trading for $0.70, which shows some growth in the token’s price. Still, the general air surrounding the token is laced with anxiety and paranoia about what is to come.
Speculation has been running wild ever since the token dipped. Some suggest that the dip results from a general market price correction. Others believe that this is part of an exit scam, as was seen with Luna back in 2022.
MANTRA users have come forward with allegations that the company’s officials have started ignoring customers, deleting profiles, and resigning from their posts. This has put people on a speculative overdrive, and they are trying to make sense of what is to come.
Binance has tried to make sense of the whole thing and believes that this drop results from cross-exchange liquidation. Subsequently, Binance has also suggested that it is too soon to infer that this crash is part of an exit scam. However, whatever the case, the token is currently down in the dump. Therefore, it is important to wait and see and not reach to conclusions.
