RaveDAO’s RAVE token noticed a pointy decline over the previous two days because it fell greater than 60% within the final 24 hours on Monday after an earlier collapse of about 95% from $26 to close $1 on Sunday, based on knowledge shared by distinguished on-chain investigator ZachXBT.
The drop adopted a collection of public disclosures and alternate responses starting April 18, when ZachXBT known as on Binance, Bitget, and Gate.io to analyze suspected market manipulation involving the token. He initially provided a $10,000 bounty for info, however later raised it to $25,000 the identical day.
RAVE’s Sharp Collapse
Bitget acknowledged the request publicly inside hours, adopted by Binance and Gate.io later within the day, whereas RaveDAO mentioned it had no involvement within the exercise. Within the days prior, on April 13 and 14, ZachXBT mentioned he had contacted RaveDAO co-founder Yemu Xu relating to issues, however didn’t obtain a response.
In keeping with his findings, RAVE, which launched in December 2025 on Binance Alpha with a complete provide of 1 billion tokens, reveals a excessive stage of focus. It was discovered {that a} group of addresses linked to the preliminary distribution managed about 95% of the provision.
He additionally flagged suspicious centralized alternate exercise in April tied to wallets related to the mission, which included transactions involving Bitget and Gate.io deposit addresses. ZachXBT mentioned the size of the value decline appeared disproportionate to recorded liquidations, whereas including that round $6 billion in market worth was worn out on roughly $52 million in 24-hour liquidations. He cited this as an indicator of a doubtlessly unstable market construction.
In a subsequent replace, he reported {that a} multisig pockets linked to the preliminary distribution transferred roughly 23 million RAVE tokens, which is value round $23 million, to 2 Bitget deposit addresses. Following this switch, the token’s worth dropped beneath $0.60.
The investigator additionally famous that related worth actions have been noticed in different tokens, similar to SIREN, MYX, COAI, M, PIPPIN, and RIVER. He mentioned he didn’t take any buying and selling place in RAVE and added that the bounty for verifiable info stays open.
Coordinated Buying and selling Exercise
One other token to have drawn scrutiny is BinanceLife. The meme token climbed to a market capitalization of round $300 million after a big portion of its provide was withdrawn from Binance, based on on-chain knowledge.
Analytics agency Bubblemaps reported that 15 pockets addresses withdrew about 13.8% of the full provide over a two-day interval. Many transactions occurred inside carefully aligned timeframes. These wallets reportedly had no prior transaction historical past, which raised questions concerning the nature of the exercise.
BinanceLife, launched in October 2025 as a meme token impressed by a joke from Yi He, had beforehand witnessed temporary peaks earlier than fading. The latest rally drew consideration because of the focus of provide actions and the likelihood {that a} single entity could also be concerned.
The submit From $26 to Beneath $1: RAVE’s Historic Crash Attracts Investigation Calls appeared first on CryptoPotato.