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The MANTRA price crashed 87% in the last 24 hours to trade at $0.71 as of 03:35 a.m. EST on trading volume that skyrocketed 2,603% to $2 billion.
This comes after the OM price collapsed in 1 hour on Binance on Sunday following allegations that the MANTRA team sold, shortly before the project’s Telegram became inaccessible.
However, according to MANTRA, the activities were triggered by reckless liquidations and had nothing to do with the project.
The project’s co-founder, John Patrick Mullin, said they are still working on the details after citing a massive forced liquidation from a large OM investor on a centralized exchange (CEX).
Guys, I've just woken up, and I'm getting the complete breakdown of what's going on. There was a massive forced liquidation from a large OM investor on a CEX. Still working on the details, but we are here, and we're fixing this.
Thanks for the understanding. 🫡🕉️ https://t.co/p8l2Teo4p2
— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 13, 2025
Can The MANTRA Price Recover?
For several months, the OM price traded within a well-defined rising channel, steadily climbing with higher highs and higher lows.
However, this structure was violently invalidated by an intense sell-off that saw the MANTRA price plummet over 87% in a single daily candle, collapsing from around $6.50 to below $1.00, according to GeckoTerminal data.
The breakdown occurred with such momentum that it sliced through both the lower boundary of the rising channel and the 200-day Simple Moving Average (SMA).
The 50-day SMA, which was previously acting as dynamic support, is far above the current price of $6.42.
The Relative Strength Index (RSI), a measure of strength, has crashed into extremely oversold territory. Currently sitting at 15.89, which indicates severe selling pressure.
If the bearish momentum continues, OM could revisit the lows of the candle wick around the $0.67 level or even test lower psychological supports near $0.50 or $0.25.
In the immediate term, the price of OM suggests that it is deeply oversold, and a short-term relief bounce is possible.
Such a move would push the MANTRA price to the $1.50–$2.00 resistance levels, with significant resistance levels at the 200-day SMA ($4.21) and 50-day SMA ($6.42) looming far above.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL) for potential Bitcoin airdrops. 99Bitcoins, a prominent YouTube channel with over 725k subscribers, says BTCBULL could soar 10X after launch.
BTC Bull Token Races Towards The $5 Million Mark
In one of the strongest presale showings of the year, the new meme coin BTC Bull Token just rocketed past the $4.6 million raised in its ongoing token presale.
BTC Bull Token introduces a unique approach: it rewards holders with Bitcoin airdrops whenever BTC hits significant price milestones for the first time.
As Bitcoin marches toward the $1 million target, BTC BULL Token holders will get rewarded along the way.
Investors who hold BTCBULL in Best Wallet will receive free BTC airdrops when the Bitcoin price hits $150k and $200k for the first time.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
There will also be a massive BTCBULL airdrop for the strongest hodlers when BTC hits $250,000, weighted by ”Community Sale purchase amount.”
In addition to BTC airdrops, the team will carry out token burns as well, permanently removing a portion of the total supply. The aim is to follow Bitcoin’s footsteps and increase scarcity and value.
BTCBULL token holders can earn passively by staking their tokens for a 88% annual yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull Token website to buy BTCBULL for $0.00246 each using BNB, ETH, USDT, or a bank card.
Buy BTCBULL before a price hike in about one day to secure the best deal.
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Best Wallet - Diversify Your Crypto Portfolio
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