RaveDAO Accused of Knowing Token Price Manipulator by Blockchain Investigator

A prominent blockchain investigator, ZachXBT, has come forward with allegations that the team behind RaveDAO is aware of the individual responsible for manipulating the price of its token. This accusation comes after the token experienced an unprecedented 11,000% surge, only to plummet by over 90% shortly after. The investigator cited suspicious activity on centralized crypto exchanges linked to RaveDAO team addresses, which contradicts the team's recent statements denying involvement in the price manipulation. The team had claimed they were not engaged in, nor responsible for, the recent price action, but ZachXBT argues that given the concentration of token supply, it is unlikely the team does not know who is responsible. The RaveDAO token had risen from $0.25 to $27.33 in just nine days, reaching a market capitalization of $6 billion, before losing approximately $5.7 billion in value over the next 48 hours. The investigator also expressed skepticism that the price movement was organic, given the token's low utility and the team's handling of the initial distribution. Furthermore, ZachXBT noted that RAVE is not the only token to have experienced manipulation on major centralized exchanges, but its case is the most blatant. The investigator also questioned how the exchanges could have missed the significant price movements of the $RAVE token.