Mantra’s OM token surged 200% on April 14 after plummeting 90% over the weekend amid rug pull scam allegations. The co-founder JP Mullin confirmed the project's stability and clarified that the crash was due to forced closures by centralized exchanges. This response alleviated fears that the team, controlling 90% of the token supply, had orchestrated the sell-off to profit from a margin call following a change in loan risk parameters on exchanges like OKX. Despite the recovery, concerns remain, mirroring a potential bull trap similar to that of the LUNA crash in May 2022. Following LUNA's behavior, OM’s price failing to reclaim crucial moving averages suggests a risk of further declines. The weekly relative strength index shows weakened momentum, validating skepticism around the recent bounce. The article underscores that any gains from this point might merely represent temporary recoveries, with experts indicating that the bull market may be over.

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