Blockchain Investigator Alleges RaveDAO's Awareness of Token Price Manipulation

A renowned blockchain investigator, ZachXBT, has come forward with claims that the team behind RaveDAO is aware of the individual responsible for manipulating the price of its token, which experienced an unprecedented 11,000% surge followed by a sharp decline. The investigator cited suspicious activity on centralized crypto exchanges tied to RaveDAO team addresses, which contradicts the team's recent statements. A transfer of approximately $23 million worth of tokens from a RAVE address to two Bitget deposit addresses was also flagged, resulting in a 40% price drop. RaveDAO had previously denied any involvement in the price action, but ZachXBT argues that given the concentrated supply, the team must be aware of the responsible party. The RaveDAO token's price skyrocketed from $0.25 to $27.33 in nine days, only to plummet by over 90% and lose $5.7 billion in market capitalization within 48 hours. The investigator 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 unlikely that the exchanges did not detect the massive price movements.