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- RaveDAO token plunged 95% from $26 to under $1.<\/li>\n
- RAVE launched in December 2025 on Binance Alpha.<\/li>\n
- ZachXBT\u2019s on-chain analysis also highlights MemeCore, River and MYX among questionable projects.<\/li>\n<\/ul>\n
RaveDAO (RAVE) has plunged below $1, erasing more than 95% of its earlier rally to an all-time high of $26.<\/p>\n
The sharp decline follows an investigation by blockchain analyst ZachXBT, which alleged clear signs of price manipulation.<\/p>\n
The findings have raised broader concerns about potential insider-driven schemes affecting multiple tokens listed on centralised exchanges, contributing to selling pressure across the segment.<\/p>\n
RaveDAO token dumps amid ZachXBT\u2019s explosive allegations<\/h2>\n
ZachXBT, a pseudonymous investigator celebrated for dismantling multimillion-dollar crypto frauds, took to X on April 18, 2026, to dissect RAVE\u2019s suspicious trajectory.<\/p>\n
He pinpointed concentrated wallet activity controlling the token\u2019s liquidity, engineering artificial pumps to trap retail buyers before orchestrated dumps.<\/p>\n
\u201cRAVE launched in Dec 2025 on Binance Alpha with a 1B total supply. The addresses below, linked to the initial distribution, control ~95% of the RAVE supply,\u201d the on-chain sleuth posted.<\/p>\n
Labelling it a textbook \u201cpump-and-dump,\u201d ZachXBT offered a $25,000 bounty for transaction proofs, urging platforms like Binance, Bitget, and Gate.io to launch probes.<\/p>\n
He notes that the exchanges acknowledged his call, a move that could mirror past successes in securing refunds and bans.<\/p>\n
Yet ZachXBT questioned why CEXs have waited for his call to acknowledge potential manipulation.<\/p>\n
\u201cWhile it\u2019s good the exchanges responded, I find it unlikely this activity wasn\u2019t spotted internally before I raised it publicly.\u201d<\/p>\n
RAVE\u2019s price carnage unfolded mercilessly, plummeting from $26 to under $1 within 24 hours, with trading volume surging amid mass liquidations.<\/p>\n
Billions of dollars in market cap vaporised, leaving holders stunned. The declines saw the token\u2019s value drop to lows of $0.50, where it hovered as of writing on April 20, 2026.<\/p>\n
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Update: Three hours ago multisig 0x53d7 linked to the RAVE initial distribution which I flagged above sent ~23M RAVE ($23M) to two Bitget deposit addresses and the price dropped 40% from $1 to $0.6.<\/p>\n
Deposit addresses
0x26aC542f5a04D574580881723224DAcD1EDB9B45\u2026 pic.twitter.com\/Qi1asiFWsB<\/a><\/p>\n\u2014 ZachXBT (@zachxbt) April 19, 2026<\/a><\/p>\n<\/blockquote>\n
ZachXBT also hits other tokens<\/h2>\n
The potential price manipulation extends to similar tokens.<\/p>\n
\u201cRAVE is not the only token with manipulation we have seen on major centralized exchanges,\u201d he posted.<\/p>\n
\u201cIt\u2019s just the most blatant, reaching a top 15 market cap within 10 days before dropping 95% in hours. Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER.\u201d<\/p>\n
According to ZachXBT, all projects have exhibited \u201chighly questionable price action\u201d and supply dominance by the team.<\/p>\n
MemeCore, RIVER and PIPPIN prices echoed the Rave token bleed, dumping double digits to erase recent gains.<\/p>\n
Some retail traders commented on ZachXBT\u2019s post, noting this could be an opportunity to short. His response:<\/p>\n
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I do not recommend shorting manipulated tokens with a high insider concentration.<\/p>\n
\u2014 ZachXBT (@zachxbt) April 20, 2026<\/a><\/p>\n<\/blockquote>\n
Data on CoinMarketCap showed M, River and Siren were down 7-9% in the past 24 hours as of writing.<\/p>\n