CEO of Mantra, John Mullin, recently announced a proposal to burn 300 million OM tokens allocated for the team. The price of Mantra cryptocurrency subsequently increased by 30%.

While the token was trading at $0.78 at that time, it has since declined. At the time of writing, the OM token is priced at $0.65.

The CEO's decision came after the price of this token plummeted from $6.30 to $0.52 within just a few hours on April 13, 2025.

As a result, the company is now becoming the center of attention as many wonder whether this recovery plan is enough to bring the OM token back to $1 or even higher.

CEO Mantra's Token Burn Proposal

The rapid collapse of Mantra's OM token has wiped out over $5.4 billion in the company's market capitalization.

This significant drop forced the CEO to find ways to regain the community's trust. To do this, he proposed burning the entire allocated amount of 300 million Mantra cryptocurrency (OM) tokens.

These tokens account for 16.88% of the total market cap and are officially locked from 2027 to 2029.

However, Mullin now wants to completely eliminate them as a strategy to regain investor trust. On X, Mullin revealed his intention to burn these tokens.

"I will burn all the tokens belonging to my team, and as soon as we turn things around, the community/investors can decide whether I can get them back."

This gesture has garnered both positive and negative sentiments from the public. Some praised the move as noble, while others argued it would demoralize the team.

The Mantra team also revealed that there would be a decentralized vote. And then, they will vote to request the return of the tokens as the project regains power.

Although this decision has caused a negative reaction, the action is seen as an effort to reclaim some lost territory and assert power.

Counter-Reaction to the Burn Plan

Many community members expressed support for Mullin's decision to burn the Mantra cryptocurrency token.

Trader Ran Neuner warned that burning the team's incentive could dampen the morale of project developers. 'We want teams with high motivation,' Neuner argued, adding,

"Burning the incentives may seem like a good gesture, but in the long run, it will harm the team's motivation."

Another community member, Bonnke4life, also agreed with these concerns. They suggested that the project should consider modifying the token vesting schedule and exploring structured buybacks to enhance transparency instead of burning all of the team's tokens.

From this perspective, such adjustments could achieve the desired outcome without undermining the development team's motivation.

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

This includes a $109 million ecosystem fund that will be used to manage the controlled burn and buyback of tokens, along with a report following the collapse on April 13.

Technical Analysis: Will Mantra Price Reach $1?

As of now, the price of Mantra cryptocurrency is trading at around $0.78, an increase of 30% in the last 24 hours.

Famous cryptocurrency analyst Dom's Crypto highlighted a bullish pattern on the OM price chart, indicating the formation of a 'bull flag' suggesting a potential upside breakout.

According to Dom, if OM can surpass the $1.20 mark, the price could skyrocket to $3.50, marking a potential increase of 500% from the current price.

While the technical chart shows positive signs, the success of this price volatility will largely depend on implementing the proposed recovery plans.

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