$RAVE crashed 95% from its $27.88 ATH to ∼$1 after ZachXBT alleged pump-and-dump activity, then bounced 260%+ this week to $1.50-$1.61. It’s now 95.9% below its peak.
Why the bounce: No fundamentals driving it. Pure post-crash volatility, thin liquidity, and speculative trading on oversold conditions. Retail sentiment on Stocktwits flipped to 'extremely bullish' with 'extremely high' chatter.
The red flag: ZachXBT claims a small group of wallets controls large supply and called on Binance & Bitget to investigate market manipulation. Many traders call this a "dead cat bounce" - a short rally before further decline.
Key metrics:
Market cap: $280.4M, #144 on CoinGecko • 24h volume: $142.6M, down 65.9% vs yesterday • Circulating: 250M / 1B max supply
Take: High-risk momentum play. On-chain shows some accumulation after the crash, but with manipulation allegations open and no fundamental driver, this looks like traders chasing volatility. If it can't hold $1, the downtrend likely resumes. #RAVEN