Investigator Claims RaveDAO Aware of Token Price Manipulation

A renowned blockchain investigator, ZachXBT, has come forward with allegations that the team behind RaveDAO is aware of the individual or entity responsible for the drastic manipulation of its token's price. This claim comes on the heels of an extraordinary 11,000% surge in the token's value, followed by a precipitous collapse. ZachXBT cited suspicious activity on centralized cryptocurrency exchanges tied to RaveDAO team addresses, which may contradict the team's recent assertions of innocence. The investigator highlighted a transfer of approximately $23 million worth of tokens from a RAVE address used for initial distribution to two Bitget deposit addresses, resulting in a 40% price drop. RaveDAO had previously denied any involvement in the price manipulation, stating that the team was not engaged in, nor responsible for, the recent price action. However, ZachXBT insists that given the concentrated supply of the token, it is unlikely that the team is unaware of the party responsible for the manipulation. The investigator also expressed skepticism regarding the organic nature of the token's price increase, from $60 million to $6 billion in market capitalization in just nine days, especially considering the team's handling of the initial distribution with a low float. The RaveDAO token's price currently hovers around $0.67, after losing roughly $5.7 billion in market capitalization in 48 hours. ZachXBT also noted that RAVE is not an isolated case of token manipulation on major centralized exchanges, but rather the most blatant example.