Mantra’s OM (OM) token staged a sharp rebound after plunging 90% over the weekend, following an active response from the project’s team addressing allegations of a rug pull scam.
OM bounces 200% as co-founder addresses concerns
As of April 14, OM was trading for as high as $1.10, almost 200% higher when compared to its post-crash low of $0.37 a day prior.
OM/USDT daily price chart. Source: TradingView
The rebound came after Mantra addressed mounting rug-pull allegations.
Co-founder JP Mullin reassured the community that the project remains active, pointing to the official Telegram group being “still online.”
“We are here and not going anywhere,” Mullin wrote, also sharing a verification address to prove the team’s OM token holdings. He attributed the OM’s crash to “reckless forced closures initiated by centralized exchanges.”
Source: JP Mullin
The assurance calmed the OM