Blockchain Investigator Accuses RaveDAO of Being Aware of Token Price Manipulation

A blockchain investigator, ZachXBT, has come forward with claims that the team behind RaveDAO is aware of the individual or group responsible for manipulating the price of its token, which experienced an unprecedented 11,000% surge before rapidly collapsing. The investigator cited suspicious activity on centralized exchanges tied to RaveDAO team addresses as evidence, contradicting the team's recent statements denying involvement in the price manipulation. The RaveDAO team had previously stated that they were not responsible for the recent price action, but ZachXBT argues that given the concentrated supply of the token, it is unlikely that the team does not know who is responsible. The investigator also pointed to a transfer of $23 million worth of tokens from a RAVE address to two Bitget deposit addresses, which caused the price to drop by 40%. The RaveDAO token's price had increased from $0.25 to $27.33 in just nine days, before plunging by over 90% and losing $5.7 billion in market capitalization. The current price of the token is around $0.67. ZachXBT also noted that RAVE is not the only token to have been manipulated on major centralized exchanges, but its case is the most blatant, and it is highly unlikely that the exchanges did not detect the significant price movements.