RAVE Token Crashes 95% as RaveDAO Denies Market Manipulation Allegations

RaveDAO’s native token, RAVE, collapsed by as much as 95% after an explosive rally. Triggering widespread panic and scrutiny across the crypto market.

The token surged from around $0.25 to nearly $28 within days before crashing back to nearly $1, wiping out billions in market value. The dramatic volatility has been linked to allegations of a coordinated pump-and-dump scheme. With onchain analysts claiming that more than 90% of the token supply may be controlled by insiders.

RaveDAO has denied any involvement in price manipulation, stating that the team is not responsible for recent market movements and remains focused on long-term growth and Web3 initiatives. However, major exchanges including Binance and Bitget have launched investigations into suspicious trading activity, intensifying concerns over market integrity. The incident highlights the risks of low-liquidity tokens and hype-driven rallies, where rapid gains can quickly reverse. Leaving investors exposed to extreme volatility.

Clever Robot News Desk 20^th April 2025