RaveDAO (RAVE) has experienced a significant price drop, falling below $1 and wiping out over 95% of its previous rally to $26. The decline came following an investigation by blockchain analyst ZachXBT, who raised concerns about potential price manipulation.
ZachXBT highlighted suspicious wallet activity controlling RAVE’s liquidity, suggesting orchestrated pumps and dumps to deceive retail investors. The token, launched on Binance Alpha in December 2025 with a total supply of 1 billion, saw a rapid decline in value.
RaveDAO Token Plunge and Allegations
ZachXBT, known for exposing crypto frauds, pointed out the concentrated wallet activity linked to RAVE’s supply distribution, labeling it a classic “pump-and-dump” scheme. He offered a bounty for transaction proofs and urged exchanges to investigate the manipulation.
The price of RAVE plummeted from $26 to under $1 within a day, with billions of dollars in market cap disappearing. The token’s value dropped to around $0.50 amid increased trading volume and liquidations.
Other Tokens Under Scrutiny
ZachXBT also raised concerns about other tokens, including SIREN, MYX, COAI, M, PIPPIN, and RIVER, which exhibited suspicious price movements and team-controlled supplies. Retail traders noted the opportunity to short these tokens, but ZachXBT cautioned against it due to high insider concentration.
Market data showed that tokens like M, River, and Siren had experienced declines in the past 24 hours, reflecting the broader impact of potential price manipulation on the market.
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