Price prediction for MANTRA: Will it return to the $1 level soon?

CEO John Mullin of Mantra recently announced a proposal to burn 300 million OM tokens allocated to the team. The price of Mantra recorded a significant rise to the sky of 30%.

However, the upward trend could not be sustained for long. Although it once reached 0.78 dollars after positive news, the OM token has now decreased again, trading around 0.64 dollars at the time of writing.

CEO Mullin's decision came shortly after the massive sell-off on April 13, 2025, which caused the price of OM to plummet from $6.3 to $0.52 in just a few hours, leaving many investors in a state of confusion.

Currently, Mantra is becoming the center of attention in the community. Many people are questioning whether this token burn will be enough to turn the tide, bringing OM back to the $1 mark – or even higher – in the near future.

Token burn proposal by Mantra CEO

The sudden decline of the OM token has wiped out over $5.4 billion in market capitalization, leaving the investment community in a state of confusion and severe loss of confidence.

In light of this situation, the CEO of Mantra, Mr. Mullin, quickly made a move to reassure public opinion: he proposed to burn the entire 300 million OM tokens that had been allocated but not circulated. This number of tokens accounts for approximately 16.88% of the total supply and had previously been locked according to the plan from 2027 to 2029.

However, instead of waiting for the unlock time, Mr. Mullin announced that he wanted to completely eliminate the mentioned token amount – viewing this as a strong measure to restore trust from the community. On the social media platform X (formerly known as Twitter), he publicly shared his intention to burn these tokens, emphasizing his commitment to rebuilding the project's reputation and transparency.

"I am ready to burn all the tokens belonging to my team and as soon as we turn the situation around, it is the community/investors who can now decide whether I can earn them back or not."

With this strong statement, the CEO of Mantra not only demonstrates the determination to restore trust but also empowers the ultimate judgment to those who have supported and accompanied the project.

This move has sparked mixed reactions from the community. Some applaud it as a noble action, willing to sacrifice personal interests for the long-term future of the ecosystem. Meanwhile, others are concerned that this could undermine team morale – which is a vital factor during times of crisis.

To concretize the commitment to transparency and empower the community, the Mantra team announced that they will organize a decentralized vote. As the project gradually regains its position, the community will have the right to decide whether the burned tokens should be returned or not.

Despite causing quite a controversy, Mullin's actions are being seen as a final effort to regain what has been lost – both in terms of trust and power – in a merciless market.

Mixed reactions to the burning plan

Many members of the community have expressed their support for the decision to burn the Mantra team cryptocurrency tokens of Mullin.

Trader Ran Neuner warns that burning team rewards could lower the morale of project developers. "We want teams to be highly encouraged," Neuner argued, adding:

"Burning rewards may create a positive impression, but in the long run, it will harm the team's motivation."

A community member, a user named Bonnke4life, also agreed with these concerns. They suggested that the project should consider modifying the vesting schedule* of tokens and explore structured buyback mechanisms to enhance transparency instead of burning all of the team's tokens.

From this perspective, such adjustments can achieve the desired results without compromising the motivation of the development team.

Despite these differing opinions, Mullin emphasized that the burn plan is part of a larger effort to stabilize the Mantra token and rebuild the project.

This includes a $109 million ecosystem fund that will be used to manage the controlled burning and buyback of tokens, along with post-incident analysis on April 13.

Technical Analysis: Will Mantra Price Reach 1 Dollar?

As of now, Mantra is trading around $0.64, showing a price increase of 0.9% in the last 24 hours.

The famous analyst Dom's Crypto has highlighted a bullish pattern on the OM price chart, indicating the formation of a "bullish flag" suggesting the potential for a bullish breakout.

Source: According to Dom, if OM can surpass the $1.2 mark, the price could rise to the sky to $3.5, marking a potential increase of 500% compared to the current price.

Although the technical chart shows positive signs, the success of this price movement will largely depend on the implementation of the proposed recovery plans.

The market's reaction to the community vote on token burning and other measures may play a crucial role in determining the future price action of OM.

*Vesting: The process of holding, locking, and releasing tokens to create leverage for entering the market.

You can view the OM price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

Minh Anh