Blockchain Investigator Accuses RaveDAO of Knowing About Token Price Manipulation

A prominent blockchain investigator, ZachXBT, has alleged that the team behind RaveDAO is aware of the individual or entity responsible for manipulating the price of its token, which experienced an unprecedented 11,000% surge before plummeting. The investigator cited suspicious activity on centralized exchanges tied to RaveDAO team addresses, which may contradict the team's recent statements. RaveDAO had previously denied any involvement in the price manipulation, stating that they were aware of the rumors but not responsible for the recent price action. However, ZachXBT argues that given the concentrated supply of the token, it is unlikely that the team does not know who is responsible for the price movement. The RaveDAO token had risen from $0.25 to $27.33 in just nine days, before losing over 90% of its value in 48 hours, resulting in a loss of approximately $5.7 billion in market capitalization. The investigator also noted that this is not an isolated incident, stating that similar manipulation has been seen on major centralized exchanges, but the RAVE token's case is the most blatant.