RAVE Token Faces Another 50% Crash Amid Price Manipulation Claims
Cointelegraph
RAVE faces a potential 58% decline as technical indicators and allegations of market manipulation by insiders continue to pressure the token's price.Summary
RavenDAO's RAVE token is at risk of a further 50% to 58% price drop following a 98% value collapse. Technical analysis of the hourly chart indicates the token is trading within a descending channel, with indicators suggesting continued bearish momentum. These technical vulnerabilities are compounded by serious allegations from on-chain investigator ZachXBT, who characterized the token's recent volatility as a pump-and-dump scheme involving insider-controlled supply and large-scale transfers to exchanges. While RaveDAO has denied involvement, concerns regarding liquidity concentration and the project's plans to sell unlocked tokens have further damaged market sentiment.
(Source：Cointelegraph)