RaveDAO Accused of Having Knowledge of Token Price Manipulation by Blockchain Investigator

A blockchain investigator, ZachXBT, has alleged that the team behind RaveDAO is aware of the individual or group responsible for the significant manipulation of its token's price, which experienced an unprecedented 11,000% surge before plummeting. The investigator cited suspicious activity on centralized exchanges tied to RaveDAO team addresses, contradicting the team's recent statements. RaveDAO had earlier claimed that it was not engaged in or responsible for the recent price action, but ZachXBT argued that given the concentrated supply, the team must know who is behind the manipulation. The token's price had risen from $0.25 to $27.33 in nine days, before dropping by over 90% and losing $5.7 billion in market capitalization. The investigator also noted that RAVE is not the only token to have experienced manipulation on major centralized exchanges, but its case is the most blatant.