🚨 $RAVE (RaveDAO) Update – Classic Pump & Dump Case

Last week, $RAVE exploded ~4,500%, skyrocketing from under $0.30 to nearly $28. Many people FOMO’d in.

However, on-chain data showed clear red flags:

- Top 100 wallets control 97% of the total supply (extremely risky)

- Tens of millions of RAVE tokens were transferred in bulk from Bitget Deposit to Main Wallet in just 1-2 days (see attached images)

- On-chain investigator zachxbt exposed suspicions of insider manipulation

Result: The price has crashed over 95%, now trading around $1.20.

This is a textbook example of how a token heavily controlled by whales can be pumped hard and then dumped, leaving retail investors as exit liquidity.

Data via nansen