What exactly happened to Mantra?

[Cryptoddler]

Omg.. I mean the token had a massive dupm in only an hour.
This was the craziest dump I've seen since LUNA and FTT.
Does anyone know what exactly happen with the token?

[NotATether]

It smells like a massive exit scam.

Either the token failed spectacularly, or a whale managed to dump their entire supply.

[Charles-Tim]

Many coins are dumping like this but this one is so massive. Almost every week, I do see coin dump within an hour for almost 3 times or slightly more but OM dumped more than 10 times before it increased a little and it is still dumped more than 9 times when I was posting this.

If you want to know the reason, join their telegram group and read what they are posting on X if they have the two social accounts. I do not know the reason but know that those coins are full of insider trading and whales manipulations.

Edit:
Read this: https://bitcointalk.org/index.php?topic=5538106.msg65276179#msg65276179

Maybe it is true or not, we do not know.

[Barikui1]

Many coins are dumping like this but this one is so massive. Almost every week, I do see coin dump within an hour for almost 3 times or slightly more but OM dumped more than 10 times before it increased a little and it is still dumped more than 9 times when I was posting this.

If you want to know the reason, join their telegram group and read what they are posting on X if they have the two social accounts. I do not know the reason but know that those coins are full of insider trading and whales manipulations.

This is one of the major risk attached to buying and holding of alt and meme coin, because it can be easily manipulated, though alt with large market cap like bnb, Ethereum, Solana etc are not that bad of an investment because they aren't as shitty as all other coins out their, without looking at it that much but the whole hand writing on the wall shows the exact sentiment of what @NotATether has said already, it's either it's and exit scam or the largest holders of the coin dump it.

So the best thing to do is to avoid all this alt and meme coin because I sees them as a disaster waiting to happen, but if you wish to gamble on any of them, it's best you invest an amount you are willing to lose if things doesn't goes as planned.
And lastly, when something like this happen, I don't really think that they will respond to anyone in their official channel, like their X account or the telegram handle, the earlier most investors learn the better.

[JeffBrad12]

It smells like a massive exit scam.

Either the token failed spectacularly, or a whale managed to dump their entire supply.

Apparently it's the latter, 5 Billion FDV just being swept like that and the founder keep talking nonsense without proper explanation which is why current price just keep dumping and dumping.
People are literally cutting their lose right now despite 90% lose which happens under half an hour so they don't get a chance to save their money.
I'm expecting this coin to dump more maybe coming back to its price in 2021.

[aioc]

I'm expecting this coin to dump more maybe coming back to its price in 2021.

Checking the price it's pumping, and the developers have announced of a recovery plan. One of these is a buyback plan using the developers funds

The team is considering a buyback program. This means Mantra may start purchasing OM tokens from the market using their own funds, in order to boost demand and support the token’s value.

https://coinpedia.org/news/major-update-on-mantra-crypto-crash-heres-what-mantra-ceo-says/

But the bigger question here is how they are going to prevent this from happening again. The crash was deemed a rug pull, and if not for the early announcement of the developers, it will further go down.
Some investors are buying the developers explanation but I still think that its risky to trust this token, so only invest with money that you can afford to lose.

[nakamura12]

Most of the token that has a very huge dump is that it is more likely an exit scam although I don't have any proof to what I said but as others have said that it could be rug pull hence why the price of mantra is dumping and dumping time after time but if it isn't a rug pull or an exit scam then it could be price manipulation. The ceo could stop the rumor if what the ceo announced is that he will do it like buying back the tokens according to the link by aioc stated that there's a whale who sold their tokens before the price crash which in my opinion that might be the reason of price crash.

[Charles-Tim]

Checking the price it's pumping, and the developers have announced of a recovery plan. One of these is a buyback plan using the

I saw this somewhere recently probably on the news. What kind of recovery plan? Or the developers only said they have a recovery plan but did not explain the recovery plan?

I checked the price now and this is what I saw on a 4 hours candle sticks chart:




Do not be deceived.

[heraware]

Omg.. I mean the token had a massive dupm in only an hour.
This was the craziest dump I've seen since LUNA and FTT.
Does anyone know what exactly happen with the token?

No official info yet, but it might just be related to market-making services. Some tokens need to constantly provide liquidity or pay for market-making on exchanges to avoid being delisted or to maintain price stability. If that support stops suddenly, whether due to funding issues or internal problems, it can cause a massive dump like this.

[sunsilk]

Omg.. I mean the token had a massive dupm in only an hour.
This was the craziest dump I've seen since LUNA and FTT.
Does anyone know what exactly happen with the token?

There is no need to conclude what exactly happened to Mantra. It's clear that the developers simply committed an exit scam.

It seems scary nowadays with the projects that are trying to look good at the first years of their existence and when they've got the community and most investors confidence to them, that's when they're likely to attack and surprise everybody with their long and waited plan of dumping all at once.

While there could be people glorifying the current 25% growth that it has got after the massive pump, they need to look and start from how much it was before this exit and 2nd series of pump.

[Mrbluntzy]

I mostly agree with the first comment, altcoin projects with the intention of exit scam will likely allow their token to dump  as much as Mantra. It's either the teams are  scammers who distributed the token among themselves and dumped the it when it had gained a high trading volume or the team are inexperience in crypto business.
If they are inexperience, it means they can not level up that project again and if they are also scammer the project is going to also die. Many projects like this dumped and died from there, Mantra might see the same faith.

[TastyChillySauce00]

Checking the price it's pumping, and the developers have announced of a recovery plan. One of these is a buyback plan using the

I saw this somewhere recently probably on the news. What kind of recovery plan? Or the developers only said they have a recovery plan but did not explain the recovery plan?

I checked the price now and this is what I saw on a 4 hours candle sticks chart:




Do not be deceived.

There's no such thing as recovery plan so far .
Even nobody know whats gonna happen, see recent Mantra's founder interview by coffezilla, we all know this coin isn't going anywhere.

Moreover previous FDV was because low float in which the team can easily control the price, not a real FDV as in the circulating supply is high enough to make things organic.
Don't catch a falling knive, especially from a low tvl low users blockchain like mantra.

[Dave1]

I'm expecting this coin to dump more maybe coming back to its price in 2021.

Checking the price it's pumping, and the developers have announced of a recovery plan. One of these is a buyback plan using the developers funds

The team is considering a buyback program. This means Mantra may start purchasing OM tokens from the market using their own funds, in order to boost demand and support the token’s value.

https://coinpedia.org/news/major-update-on-mantra-crypto-crash-heres-what-mantra-ceo-says/

But the bigger question here is how they are going to prevent this from happening again. The crash was deemed a rug pull, and if not for the early announcement of the developers, it will further go down.
Some investors are buying the developers explanation but I still think that its risky to trust this token, so only invest with money that you can afford to lose.

That is a good recovery plan, but not sure if the project itself will gain the trust back because it really looks like some entities did a p&d type of thing.

Or it is just a rug pull, but the timing though, it seems that the entities knows what he or she is doing and at at right time, dump everything and make a nice money and get away from this project.

So for me, I will stay away from it and not buying the explanation, period.

[coin-investor]

The team is considering a buyback program. This means Mantra may start purchasing OM tokens from the market using their own funds, in order to boost demand and support the token’s value.

https://coinpedia.org/news/major-update-on-mantra-crypto-crash-heres-what-mantra-ceo-says/

That is a good recovery plan, but not sure if the project itself will gain the trust back because it really looks like some entities did a p&d type of thing.

Unfortunately its not receiving positive feedback with the community.
A 10.8% drop in the market as of this writing is not good. The community has seen the technical vulnerabilities of this project so why would they trust it again?
The buyback is not the one that will resolve the trust; it's the plan to solve the technical vulnerabilities. What is their plan for the same scenario not to happen again? It's not within their control; it's the technical nature, so it's better not to be in a hurry to buy back again until they fix the issues and avoid a repeat of the dump scenario.

[TastyChillySauce00]

Unfortunately its not receiving positive feedback with the community.
A 10.8% drop in the market as of this writing is not good. The community has seen the technical vulnerabilities of this project so why would they trust it again?
The buyback is not the one that will resolve the trust; it's the plan to solve the technical vulnerabilities. What is their plan for the same scenario not to happen again? It's not within their control; it's the technical nature, so it's better not to be in a hurry to buy back again until they fix the issues and avoid a repeat of the dump scenario.

Honestly if I were the ones who old $OM and crashed, buyback with $109 million size is always a good thing to have for recovery plan, you don't recover the price by fixing technical, as founder himself said, the dump was caused by chain reaction of exchange liquidation, meaning there's no technical aspect needed to fix except in exchange and the concern of solvency. I'm sure exchange will also take some action to fix things.

Although i'm not so sure if that big buy back will really happen. I mean, the buyback can very well be done in a slow manner and therefore might not be as impactful as it was pictured.

[Ethan_Crypto]

I still don’t know the cause of th Mantra dump

[Orange89]

Unfortunately its not receiving positive feedback with the community.
A 10.8% drop in the market as of this writing is not good. The community has seen the technical vulnerabilities of this project so why would they trust it again?
The buyback is not the one that will resolve the trust; it's the plan to solve the technical vulnerabilities. What is their plan for the same scenario not to happen again? It's not within their control; it's the technical nature, so it's better not to be in a hurry to buy back again until they fix the issues and avoid a repeat of the dump scenario.

Honestly if I were the ones who old $OM and crashed, buyback with $109 million size is always a good thing to have for recovery plan, you don't recover the price by fixing technical, as founder himself said, the dump was caused by chain reaction of exchange liquidation, meaning there's no technical aspect needed to fix except in exchange and the concern of solvency. I'm sure exchange will also take some action to fix things.

Although i'm not so sure if that big buy back will really happen. I mean, the buyback can very well be done in a slow manner and therefore might not be as impactful as it was pictured.

From the first day they are really over valued comparing their market cap and teams statements  

There are two main reasons that I see in these
1) Maybe it failed badly by its own pump and dump ha ha
2) Some whale sold all their tokens at once only

Most probability the Chances are of 2nd Reason
  $5 billion token dropped and you know the founder is not giving clear things what had happened so price keep dumping no one care know if founder themself are not sure most people even selling it with even 95% loss I just hope it doesn't drop more

to be honest I am also holding a couple of token as well that I had recieved from the airdrop but I am still holding these
For me these dump is nothing as I sold my major portion already on good price

[Overgearr]

I think it's a scam coin, just like most altcoins.

[ultrloa]

I still don’t know the cause of th Mantra dump

Maybe you get some good info about what happen here https://www.fxstreet.com/cryptocurrencies/news/why-mantra-tokens-dramatic-90-crash-wiped-out-52b-market-share-202504140435

And even the dev deny that they are the one dumping their coin still it does not erase the fact that they are now in terrible situation and provably that people will be in doubt to trust them back again or if there's new investors would spend their money to buy their token and give them a chance. Also if I where you better get not to think about investing on it if you have plans to take the risk because we don't know what's going to happen with this project after this bad incident happen.

[moneystery]

Unfortunately its not receiving positive feedback with the community.
A 10.8% drop in the market as of this writing is not good. The community has seen the technical vulnerabilities of this project so why would they trust it again?
The buyback is not the one that will resolve the trust; it's the plan to solve the technical vulnerabilities. What is their plan for the same scenario not to happen again? It's not within their control; it's the technical nature, so it's better not to be in a hurry to buy back again until they fix the issues and avoid a repeat of the dump scenario.

mantrax has simply lost the trust of many of its investors. whatever they do it seems like it will not restore the trust of investors in this project, whether they want to do a buyback, or whatever, it can only restore a few percent... and maybe in that process it could drop again because people see that it is an opportunity to sell their tokens. basically this token is already very risky, and the development team has no plans other than just talking and saying that they will try their best to save this project.