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Mantra's OM token plummeted over 90% in value within 24 hours, sparking concerns of a potential rug pull and questions around market stability.
What’s the Scoop?
- Massive Price Collapse: The price of Mantra's OM token fell from $6.3 to below $0.50, shedding over 90% of its market cap in just 24 hours.
- Rug Pull Speculation: Traders speculate on a potential rug pull, with the incident being compared to prior collapses like LUNA and FTX.
- Team Denial & Explanation: Mantra's co-founder denied foul play, attributing the collapse to reckless liquidations, while confirming the team still holds its tokens.
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