Blockchain Investigator Accuses RaveDAO of Knowing Token Price Manipulator

A blockchain investigator, ZachXBT, has come forward with allegations that the RaveDAO team is aware of the individual or group responsible for manipulating the price of its token, which experienced an unprecedented 11,000% surge followed by a drastic collapse. The investigator pointed to questionable activity on centralized cryptocurrency exchanges, specifically a transfer of $23 million worth of tokens from a RaveDAO address, resulting in a 40% price drop. Despite RaveDAO's claims of not being involved in the price manipulation, ZachXBT argues that the team must be aware of the responsible party due to the concentrated supply and their handling of the initial token distribution. The token's price rose from $0.25 to $27.33 in nine days, only to plummet by over 90% and lose $5.7 billion in market capitalization within 48 hours, now hovering around $0.67. The investigator also noted that this is not an isolated incident, stating that similar manipulation has been observed on major centralized exchanges, with the RAVE token case being particularly blatant.