RaveDAO Accused of Knowing About Token Price Manipulation by Blockchain Investigator

A blockchain investigator, ZachXBT, has alleged that the RaveDAO team is 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 cited suspicious activity on centralized exchanges tied to RaveDAO team addresses, contradicting the team's recent statements. RaveDAO had previously stated that they were not engaged in, nor responsible for, the recent price action. However, ZachXBT argues that given the concentrated supply, the team must be aware of who is behind the price manipulation. The RaveDAO token's price skyrocketed from $0.25 to $27.33 in just nine days, before plummeting over 90% and losing approximately $5.7 billion in market capitalization. The investigator also noted that RAVE is not the only token to have experienced manipulation on major centralized exchanges, but its case is the most blatant. Furthermore, ZachXBT expressed skepticism that the exchanges did not detect the massive price movements, suggesting a lack of oversight.