RAVE token collapsed 95% from $28 to $0.50 after ZachXBT alleged a pump-and-dump scheme. Binance and Bitget launched investigations, on-chain data reveals 95% supply held by 9–10 wallets.
RAVE fell from $28.90 to about $1.24 within days. RaveDAO denied involvement in price manipulation, while Binance and Bitget confirmed formal probes into the token’s trading activity.
On-chain sleuth ZachXBT accuses RAVE token insiders of controlling over 90% of circulating supply, alleging market manipulation. Binance co-CEO Richard Teng and Bitget respond with investigations. RAVE plunged over 90% in 24 hours, raising pump-and-dump concerns.
RAVE surged to $27.94 in April 2026, then fell to about $0.60. Source material points to 23 million tokens sent to Bitget by team-linked wallets, a reversal after a short squeeze, and more than $48 million in liquidations, raising questions over transparency and supply concentration.
ZachXBT published a timeline of the RAVE collapse, alleging that a small group of addresses controlled about 95% of supply. He also warned that tokens including SIREN and MYX may show similarly suspicious price action.
RAVE breaks above $27 with $20.64M in total liquidations in 24h, shorts accounting for 88.8%. Coin-margined OI drops 83% from peak, forming a bearish divergence. Token concentration over 90% in 3 wallets.
RAVE token surged 6,000% in one month, entering top 50 by market cap. On-chain data shows only 24% in circulation, top 10 wallets hold over 98%, surge driven by short squeeze and low liquidity.
RAVE token rocketed from $0.30 to nearly $10 in three days, a 3,300% gain. On-chain investigators at Evening Trader Group say it was a calculated attack on short sellers, with wallets depositing $30.58M to Bitget to bait shorts, then withdrawing to pump spot prices and trigger liquidations. Team controls ~80% of circulating supply.
