Mantra Token Tanks as Confidence Collapses—CEO’s Hail Mary Speech Looms

Another day, another crypto crisis. Mantra’s price bleeds out as investors flee—proving once again that in decentralized finance, the only thing faster than smart contracts is panic.

All eyes on the CEO’s upcoming speech. Will it be a turnaround masterclass or just another ’trust me bro’ moment? Place your bets—the house always wins.

Mantra price technical analysis

Mantra has also pledged to implement other solutions to boost the token price. In addition to Mulln’s token burn, the company will burn 300 OM tokens from its Treasury. A token burn reduces the number of those in circulation and potentially boosts its price. 

Mantra has also hopes to implement a $109 million token buyback. A buyback increases demand for tokens and can help to stabilize its price. The team has also pledged to implement more transparency. 

However, it is unlikely that these actions will be effective because the trust among investors is gone. 

The daily chart shows that the OM price collapsed earlier this month. It dropped from a high of $9.10 in March to $0.50 today, erasing over $7.5 billion in value. 

The Mantra price has crumbled below all moving averages, a sign that bears remain in control. It has also formed a bearish pennant pattern, which consists of a vertical line and a triangle pattern. 

Therefore, while the Mantra coin may seem cheap, there is a likelihood that it will continue falling over time. It may drop to the next point at $0.2330, the lowest swing in February last year. The only caveat is that failed projects like Celsius, FTX, and Safemoon often experience short squeezes.