ZachXBT talk say RAVE insider wallets dey — price crash am under $1 as Binance/Bitget dey investigate
On-chain investigator ZachXBT dey claim say insider wallets control about 90%–95% of RAVE token supply and dem run one pump-and-dump scheme: dem allegedly move millions of RAVE go Bitget before rally, then withdraw plenty during the surge.
RAVE token wey RaveDAO (music/events DAO) launch reportedly jump from around $0.25 to the $14–$26 range for early April 2026 (some reports say near $28), before e collapse below $1 — overall drop more than 95%. ZachXBT still point to big wallet flows wey link to Bitget deposit addresses and talk about major market value losses and liquidations, showing unstable market structure.
After the allegations, Binance and Bitget open formal investigations into RAVE trading activity (Binance and Bitget start on April 17; status still ongoing as of April 19). RaveDAO deny say dem involved and say dem no responsible for the recent price action, and dem refuse to confirm the control figures. Traders make una treat RAVE token volatility as high and dey watch exchange investigation updates and ongoing wallet-to-exchange flow evidence for follow-through risk.
For context, ZachXBT say similar price patterns show for other tokens too, including SIREN, MYX, COAI, M, PIPPIN and RIVER.
Bearish
Dis news dey bearish for RAVE token because e talk say supply dey controlled by few people and dem do pump-and-dump, come follow with sharp crash (over 95% and still heavy losses). Even if exchanges dey investigate, the immediate wahala na higher sell-pressure risk, fragile liquidity, and chance say volatility go continue as markets dey reprice the token credibility. Short-term, traders fit de-risk or demand bigger discounts till wallet/exchange flow evidence and investigation outcomes clear; long-term, prolonged uncertainty fit cap rallies and suppress recovery.