RAVE Token Crashes 90% as ZachXBT Exposes $5B Market Manipulation

• RAVE surged by an astronomical 10,000%, before crashing down more than 90%.
• ZachXBT accused the RaveDAO’s team and its co-founder of supporting market manipulation.
• Arkham data showed that market-maker trading addresses held over 750 million tokens.

RAVE token, linked to the RaveDAO, has crashed more than 90% in a matter of days, wiping out billions in market value.

The collapse came right after a huge rally where RAVE surged up from roughly $0.25 at the start of April to approximately $27 on April 18. This represents an astronomical 10,000% increase, which helped RAVE hit a market cap of over $5 billion.

However, shortly after the peak price, the token fell below $1, with over 90% of its value erased within 48 hours. 

Before the crash, multiple users and analysts in the community warned and pointed to signs of coordinated price manipulation.

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