Can OM Go Back to $1? Looking at the Current Sentiment for Mantra Coin

OM's price now sits far below its all-time highs, prompting a common question among investors and community members: Can OM go back to $1? It’s a fair question—especially after a bold 300 million token burn recently announced by the Mantra team. 

Let’s dig into the numbers, market psychology, and the real impact of this token burn to understand whether Mantra Coin has a legitimate path back to the elusive $1 mark.

Mantra (OM) and the Recent Token Burn

In an effort to bring fresh energy to the ecosystem, Mantra’s CEO John Patrick Mullen announced a significant supply reduction: a 300 million OM token burn. 

Half of these tokens—150 million—came directly from Mullen’s own team allocation, while the remaining half was coordinated by the wider Mantra team.

This move effectively slashed the token's total supply from 1.82 billion to around 1.67 billion, and reduced staked tokens from 578 million to 421 million. 

For long-time OM holders, this kind of burn is a strong signal of commitment from the leadership and an attempt to reignite momentum. 

Read also: How to Protect Yourself from Another MANTRA Crypto Crash: A Guide on Analyzing Tokens

Can Sentiment Shift?

Token burns can create short-term bullish sentiment, especially when combined with active community engagement. And for a brief moment, OM did see a lift, with prices climbing to around $0.545, up 5.58% in 24 hours. 

However, zoom out a bit and the broader picture becomes more sobering: OM has dropped 26.70% over the past week, showing that market sentiment remains fragile.

The crypto community remembers the hype-filled fourth quarter of 2024, when altcoins were surging and OM touched impressive highs. 

But that sentiment wasn’t just driven by tokenomics—it was fueled by momentum, community excitement, and macro-level bullishness. Those elements are hard to recreate artificially, no matter how aggressive the token burns.

Can OM Realistically Hit $1?

Let’s get real: reaching $1 would require OM to nearly double its current market cap and overcome significant resistance levels. At the time of writing, OM sits around $0.5498 with a market cap of $525 million and a 24-hour trading volume of over $277 million.

Technical Outlook:

• Immediate Resistance: $0.560
• Next Target: $0.590 (if resistance breaks and momentum builds)
• Key Support: $0.517
• Downside Risk: Break below $0.517 could lead to $0.505

So far, the token burn has created a temporary floor, but for OM to rally to $1, it would need:

• A broader market recovery
• Higher trading volume
• Continued positive developments
• Sustained community engagement

In short, while the path to $1 isn’t impossible, it’s not guaranteed—especially in the current altcoin landscape.

Read also: Mantra Burns 150M OM Tokens! Plans to Burn 150M More

FAQ

What is the current price of OM (Mantra Coin)?

As of now, OM is trading around $0.5498, with a 5.58% increase in the last 24 hours.

How many tokens were burned by the Mantra team?

A total of 300 million OM tokens were burned—150 million from the founder's allocation and 150 million from the Mantra team.

Why was the token burn done?

The burn was meant to reduce supply and potentially stabilize the ecosystem by easing selling pressure and restoring confidence.

Can OM realistically reach $1 again?

It’s possible, but not guaranteed. OM will need stronger volume, broader market recovery, and consistent project development to get there.

What’s the current sentiment around OM?

Cautiously optimistic. While the burn brought short-term gains, overall sentiment remains muted in a struggling altcoin season.