🚨$RAVE One Week Skyrocket 6000%! From 0.25 directly to 14+, is this a real carnival or a big shot harvesting?
Brothers, wake up! $RAVE (RaveDAO) has directly silenced the entire crypto circle! Just a week ago it was around 0.25, and now it has surged to over 16+, with a weekly increase of over 5000%-6000%. The market cap once surged into the top 30-50, and in just 24 hours, shorts were directly liquidated for over 30 million+ U! Why the sudden surge?
The core is three main factors:
1. Extremely abnormal supply
Total supply is 1 billion, currently the circulating supply is only about 24%! The top 3 wallets (suspected to be the team) hold about 90%, and the top 10 wallets together hold over 98%. The floating chips are so few that any buying pressure can directly break through the ceiling price!
2. Intense short squeeze
So many people are bearish and have heavily shorted. When the price rises, a chain reaction of liquidations drives the price even higher. Just in the past day, the liquidation of shorts amounted to tens of millions of dollars, and the snowball keeps getting bigger!
3. On-chain operations + real-world activities double assistance
Before the surge, wallets transferred tens of millions of RAVE to exchanges like Bitget, creating panic to induce short selling, and subsequently, the price was strongly pushed up.
At the same time, real party events like Hong Kong Dim Sum Rave (sold out on April 18) and Lisbon Dance Summit (jointly hosted from April 29) added a narrative of “Web3 Raving” with real usage scenarios to the project. NFT tickets, on-chain payments, staking rewards… it all sounds very exciting!
RaveDAO is all about bringing underground Rave culture on-chain: hosting music festivals, issuing NFT tickets, allowing everyone to rave while being on-chain. They have already held over 20 global events with 100,000 participants, making millions of dollars last year and expecting more this year.
But a word of caution:
RSI has already exploded into overbought (close to 99), and with such concentrated supply, a sharp correction could happen at any time. Brothers playing with leverage, watch out for risks, don’t FOMO to the top!
Is this wave a true breakthrough for Web3 culture, or a classic low liquidity harvesting situation? What do you think?
Are you ready to go to Hong Kong/Lisbon to party hard, or are you already waiting for the next wave of correction to jump in? Share your thoughts in the comments!
#raveuadt #爆仓了 #行情分析📈 (Pure market observation + public information organization, not investment advice🚀)