Investigator Claims RaveDAO Has Knowledge of Token Price Manipulation

A blockchain investigator, ZachXBT, has alleged that the team behind RaveDAO is aware of the individual or entity responsible for manipulating the price of its token, which saw an unprecedented 11,000% increase followed by a sharp decline. The investigator cited suspicious activity on centralized crypto exchanges tied to RaveDAO team addresses, contradicting the team's recent statements. The RaveDAO team had previously denied any involvement in the price action, stating they were not responsible for the rumors and accusations surrounding the $RAVE token. However, ZachXBT argued that given the concentrated supply, the team must be aware of who is behind the price manipulation. The investigator also questioned the likelihood of the token's market capitalization increasing from $60 million to $6 billion in just nine days without any utility, and then losing $5.7 billion in market capitalization in 48 hours. The current price of the token is around $0.67. ZachXBT also noted that RAVE is not the only token to have experienced manipulation on major centralized exchanges, but it is one of the most blatant cases.