- RaveDAO token plunged 95% from $26 to below $1.
- RAVE launched in December 2025 on Binance Alpha.
- ZachXBT’s on-chain analysis also highlights MemeCore, River and MYX amongst questionable initiatives.
RaveDAO (RAVE) has plunged below $1, erasing extra than 95% of its earlier rally to an all-time high of $26.
The bright decline follows an investigation by blockchain analyst ZachXBT, which alleged clear signs of sign manipulation.
The findings dangle raised broader concerns about doable insider-driven schemes affecting multiple tokens listed on centralised exchanges, contributing to selling strain across the segment.
RaveDAO token dumps amid ZachXBT’s explosive allegations
ZachXBT, a pseudonymous investigator successfully-known for dismantling multimillion-greenback crypto frauds, took to X on April 18, 2026, to dissect RAVE’s suspicious trajectory.
He pinpointed concentrated pockets project controlling the token’s liquidity, engineering man made pumps to entice retail customers sooner than orchestrated dumps.
“RAVE launched in Dec 2025 on Binance Alpha with a 1B entire provide. The addresses below, linked to the initial distribution, withhold an eye on ~95% of the RAVE provide,” the on-chain sleuth posted.
Labelling it a textbook “pump-and-dump,” ZachXBT supplied a $25,000 bounty for transaction proofs, urging platforms adore Binance, Bitget, and Gate.io to launch probes.
He notes that the exchanges acknowledged his name, a fling that could per chance replicate previous successes in securing refunds and bans.
Yet ZachXBT puzzled why CEXs dangle waited for his name to acknowledge doable manipulation.
“Whereas it’s correct the exchanges answered, I salvage it no longer going this project wasn’t seen internally sooner than I raised it publicly.”
RAVE’s sign carnage unfolded mercilessly, plummeting from $26 to below $1 within 24 hours, with procuring and selling volume surging amid mass liquidations.
Billions of bucks in market cap vaporised, leaving holders haunted. The declines saw the token’s worth plunge to lows of $0.50, the set it hovered as of writing on April 20, 2026.
Replace: Three hours prior to now multisig 0x53d7 linked to the RAVE initial distribution which I flagged above despatched ~23M RAVE ($23M) to two Bitget deposit addresses and the worth dropped 40% from $1 to $0.6.
Deposit addresses
0x26aC542f5a04D574580881723224DAcD1EDB9B45… pic.twitter.com/Qi1asiFWsB— ZachXBT (@zachxbt) April 19, 2026
ZachXBT also hits assorted tokens
The aptitude sign manipulation extends to an identical tokens.
“RAVE is no longer the finest token with manipulation we dangle viewed on predominant centralized exchanges,” he posted.
“It’s elegant essentially the most blatant, reaching a high 15 market cap within 10 days sooner than shedding 95% in hours. Other initiatives with highly questionable sign motion currently encompass: SIREN, MYX, COAI, M, PIPPIN, RIVER.”
In response to ZachXBT, all initiatives dangle exhibited “highly questionable sign motion” and provide dominance by the staff.
MemeCore, RIVER and PIPPIN prices echoed the Rave token bleed, dumping double digits to erase most up-to-date beneficial properties.
Some retail traders commented on ZachXBT’s publish, noting this could per chance be a risk to short. His response:
I fabricate no longer counsel shorting manipulated tokens with a high insider concentration.
— ZachXBT (@zachxbt) April 20, 2026
Records on CoinMarketCap showed M, River and Siren were down 7-9% in the previous 24 hours as of writing.
