RaveDAO token has fallen below $1 after ZachXBT exposed the price manipulation
RaveDAO token dropped 95% from $26 to $1. RAVE launched in December 2025 with Binance Alpha. ZachXBT's on-chain analysis also highlights MemeCore, River and MYX as some of the more questionable projects.
RaveDAO (RAVE) has dropped below $1, covering more than 95% of its previous rally at a high of $26.
The sharp decline followed an investigation by blockchain analyst ZachXBT, which alleged clear signs of price manipulation.
The findings raised broader concerns over insider-driven schemes that could affect many tokens listed on central exchanges, contributing to selling pressure in the sector.
RaveDAO token falls between ZachXBT explosion charges
ZachXBT, an anonymous detective credited with busting a multi-million dollar crypto scam, took to X on April 18, 2026 to debunk RAVE's dubious direction.
A concentrated wallet movement that controls the liquidity of the token, suggests engineering artificial pumps retail buyers ahead of engineered dumps.
“RAVE launched on Binance Alpha in December 2025 with a total supply of 1B. The addresses below linked to the initial distribution control ~95% of the RAVE supply,” an on-chain sleuth posted.
Dubbed the textbook “Pump and Dump,” ZachXBT offered a $25,000 reward for transaction confirmations, urging platforms like Binance, Bitget, and Gate.io to launch inspections.
It mentions that the exchanges received the call.
However, ZachXBT asked why CEXs waited for the call to acknowledge the fraud.
“While it's good that the exchanges are responding, I find that this activity has not been seen internally before you raise it publicly.”
RAVE's price carnage was merciless, dropping from $26 to $1 in 24 hours, with trading volume increasing amid mass outflows.
Billions of dollars tumbled in market value, leaving shareholders confused. The declines brought the token's price down to $0.50, where it hovered as of April 20, 2026.
Update: Three hours ago, multisig 0x53d7 connected to RAVE's first distribution, which sent the ~23M RAVE ($23M) I mentioned above to two Bitgate deposit addresses, and the price dropped 40% from $1 to $0.6.
Deposit addresses0x26aC542f5a04D574580881723224DAcD1EDB9B45… pic.twitter.com/Qi1asiFWsB
— ZachXBT (@zachxbt) April 19, 2026
ZachXBT hits other marks as well.
Potential price manipulation extends to similar tokens.
“RAVE is not the only signal of manipulation we've seen on major central exchanges,” he posted.
It is very clear that it reached the top 15 market price in 10 days before crashing 95% within hours. Other recent projects with very questionable price action include: SIREN, MYX, COAI, M, PIPPIN, RIVER.
According to ZachXBT, all the projects showed “highly questionable price action” and supply dominance by the group.
MemeCore, RIVER and PIPPIN prices echoed Rave token's bleeding, dropping double digits to erase recent gains.
Some retailers have commented on ZachXBT's post, this could be an opportunity to short. His response:
I don't recommend shorting integrated tokens with high internal focus.
— ZachXBT (@zachxbt) April 20, 2026
According to data on CoinMarketCap, M, River and Siren have decreased by 7-9% in the last 24 hours.
