RaveDAO Accused of Knowing Token Price Manipulator by Blockchain Investigator

A renowned blockchain investigator, ZachXBT, has come forward with claims that the team behind RaveDAO is aware of the individual or group responsible for the significant manipulation of its token's price. This assertion comes after the token experienced an unprecedented 11,000% increase in value, followed by a drastic collapse. ZachXBT cited suspicious activity on centralized cryptocurrency exchanges tied to RaveDAO team addresses as potential evidence contradicting the team's recent statements denying involvement in the price manipulation. 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, which led to a 40% price drop. Despite RaveDAO's denial of any involvement in the price action, ZachXBT argues that given the concentrated supply of the token, the team must at least be aware of who is responsible for the manipulation. The token's price had surged from around $0.25 to $27.33 in nine days, reaching a market capitalization of $6 billion, before plummeting by over 90% and losing approximately $5.7 billion in market value within 48 hours. The current price of the token is around $0.67. ZachXBT also expressed skepticism that such significant price movements could have gone unnoticed by major centralized exchanges, implying a potential lack of oversight or even complicity.