RaveDAO's token cratered this weekend after blockchain sleuth ZachXBT called on exchanges to investigate trading tied to its surging token.
RAVE is trending inside a descending channel pattern, and is about to test the lower trendline target near $0.30 amid price manipulation concerns.
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RaveDAO denies involvement in the dramatic surge and collapse of its RAVE token, which climbed from $0.25 to nearly $28 before plunging over 80%. Onchain investigator ZachXBT alleges more than 90% of tokens are controlled by insiders in a pump-and-dump scheme. Binance and Bitget are reviewing the situation.
