- RaveDAO token fell 95% from $26 to less than $1.
- RAVE launched in December 2025 on Binance Alpha.
- ZachXBT’s analysis on the chain also highlights MemeCore, River, and MYX among the questionable projects.
RaveDAO (RAVE) price fell below $1, erasing more than 95% of its previous high to an all-time high of $26.
This sharp decline comes on the heels of an investigation by blockchain analyst ZachXBT, who alleged clear signs of price manipulation.
The findings have raised broader concerns about potential insider-driven schemes affecting several tokens listed on centralized exchanges, contributing to selling pressures across the sector.
RaveDAO Token Is Dumped Amid Explosive ZachXBT Allegations
ZachXBT, a pseudonymous investigator celebrated for busting multi-million dollar cryptocurrency scams, took to X on April 18, 2026, to dissect RAVE’s shady trail.
He pointed to concentrated wallet activity controlling token liquidity, and engineering artificial pumps to hold retail buyers before coordinated offloads.
“RAVE launched in December 2025 on Binance Alpha with a total supply of 1 billion. The addresses below, associated with the initial distribution, control ~95% of RAVE’s supply,” the on-chain investigator posted.
Describing it as a textbook “pump and dump,” ZachXBT offered a $25,000 reward for proving transactions, and urged platforms like Binance, Bitget, and Gate.io to launch investigations.
He notes that exchanges have acknowledged his call, a move that could mirror previous successes in securing refunds and bans.
However, ZachXBT questioned why CEXs waited for his call to acknowledge the potential manipulation.
“While it is good that exchanges are responding, I find it unlikely that this activity was not observed internally before I raised it publicly.”
The RAVE price carnage unfolded mercilessly, falling from $26 to less than $1 within 24 hours, with trading volume surging amid mass liquidations.
Billions of dollars in market value evaporated, leaving holders distraught. The declines took the token’s value to the lows of $0.50, where it was hovering as of writing on April 20, 2026.
Update: Three hours ago, multisig 0x53d7 was linked to the initial RAVE distribution that I tagged above, sending ~23 million RAVE ($23 million) to two Bitget deposit addresses and the price dropped 40% from $1 to $0.6.
Deposit addresses
0x26aC542f5a04D574580881723224DAcD1EDB9B45… pic.twitter.com/Qi1asiFWsB– ZackXPT (@ZackXPT) April 19, 2026
ZachXBT also accesses other tokens
The potential price manipulation extends to similar tokens.
“RAVE is not the only token that has seen manipulation on major centralized exchanges,” he said.
“It is the most visible, reaching the top 15 market capitalization within 10 days before falling 95% in hours. Other projects with very questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER.”
According to ZachXBT, all projects showed “extremely questionable price action” and supply dominance by the team.
Prices for MemeCore, RIVER and PIPPIN echoed the Rave token’s bleeding, giving up double digits to erase recent gains.
Some retail traders commented on ZachXBT’s post, suggesting that this could be a selling opportunity. His response:
I do not recommend selling tokens that have been manipulated with high insider concentration.
– ZackXPT (@ZackXPT) April 20, 2026
Data on CoinMarketCap showed that M, River, and Siren were down 7-9% in the past 24 hours as of writing.
