Mantra Continues To Struggle Following Whale Activity

Bad To Worse

Fundamentally, things are bleak for Mantra. Metrics from IntoTheBlock showed weak Net Network Growth at 0.69%, with only -2.13% of holders in profit.

Source: IntoTheBlock

Whale concentration also decreased by -0.05%, indicating a slow exit. Finally, large transactions fell by -11.29%, signaling reduced high-volume trading.

A Massive Crash

The move follows a 4 million OM withdrawal (valued at $27.18 million) just six weeks ago, highlighting significant unrealized-to-realized losses for major holders.

OM recently broke down from a descending channel, plummeting from over $6 to under $0.50. This sharp decline indicates panic-driven liquidation. The RSI at 17.22 is deeply oversold, and the MACD histogram is turning positive, though there are no clear bullish signals.