ZachXBT challenged MemeCore to justify its valuation and explain what he claimed is insider-held supply, as the onchain sleuth widened a probe after the RAVE token’s collapse.
RAVE is trending inside a descending channel pattern, and is about to test the lower trendline target near $0.30 amid price manipulation concerns.
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.
