Investigator Claims RaveDAO Has Knowledge of Token Price Manipulation

A blockchain sleuth has accused the RaveDAO team of being aware of the individual responsible for manipulating the price of its token, which experienced an unprecedented 11,000% surge followed by a sharp collapse. The investigator, ZachXBT, cited suspicious activity on centralized crypto exchanges linked to RaveDAO team addresses, contradicting the team's recent statements. RaveDAO had previously denied any involvement in the price manipulation, but ZachXBT argued that given the concentrated supply, the team must know who is responsible. The token's price rose 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 this is not an isolated incident, stating that similar manipulation has been seen on major centralized exchanges, but the RAVE token case is the most blatant.