RaveDAO (RAVE) token
RaveDAO's $RAVE token spiked thousands of percent (from ~$0.25 to a peak around $19–28) in under a week in 2026, then collapsed ~98%. On-chain investigators including ZachXBT alleged a coordinated pump-and-dump that lured short sellers with ~$42M of inflows to Bitget before a squeeze and dump; Binance and Bitget said they were investigating market-manipulation claims.
Also known as: RAVE, $RAVE, RaveDAO, Rave token, Rave DAO
Note: The manipulation claims here are allegations from on-chain investigators and exchanges' own statements; investigations were reported as ongoing and no findings are asserted as proven.
Summary
In mid-April 2026, RaveDAO's $RAVE rose more than 6,000% in under seven days — from roughly $0.25 to a peak reported between about $19 and $28 — before reversing sharply and ultimately falling around 98% from its high. [1][2]
Manipulation allegations
On-chain investigator ZachXBT and others characterized the move as an orchestrated pump-and-dump run across Bitget, Binance and Gate, with insiders reportedly controlling over 90% of supply (concentrated in roughly three wallets). Wallets linked to the scheme were said to have moved about $42M of RAVE onto Bitget, baiting traders into short positions that were then squeezed and liquidated (~$43M in liquidations) before the dump. Binance and Bitget said they were investigating the market-manipulation claims after the weekend crash. [2][3]
Bracketed numbers refer to the numbered sources listed below.
Sources (3)
See also
- $MELANIA tokenMarket manipulationA Solana memecoin announced by Melania Trump on Jan 19, 2025. Per FT analysis, ~24 wallets bought in minutes before the public announcement and netted ~$99.6M as retail piled in; the token then fell 95%+. Early buys were traced to wallets linked to $LIBRA figure Hayden Davis. No charges have been filed.
- $TRUMP tokenMarket manipulationA Solana memecoin launched days before Donald Trump's second inauguration (Jan 2025). Trump-linked entities hold 80% of supply and earned $320M+ in fees while ~760,000 mostly-retail wallets lost money; a 'dinner with the president' promotion for top holders drew conflict-of-interest scrutiny. The 'scam' label is contested and no charges have been filed.
- Veritaseum (VERI)
This page was last updated on Jun 15, 2026. View revision history.