EL7.AI
CryptoMediumUpdated×20•Originally published 18 April 2026•Updated 20 April 2026•
1 min read

RAVE Token Suffers 100% Collapse Within 48 Hours Amid Manipulation Probe

Key Facts

1The RaveDAO team denied involvement in a RAVE token pump-and-dump scheme following allegations by investigator ZachXBT.
2Major exchanges Binance and Bitget have opened formal investigations into the incident.
3ZachXBT offered a $25,000 bounty for whistleblowers providing information on the scheme.

The RaveDAO (RAVE) token has recorded a total collapse, crashing 100% within 48 hours and wiping out approximately $6.6 billion in market capitalization. Renowned blockchain sleuth ZachXBT has called on major exchanges to investigate suspicious trading activity tied to the token, alleging that the project team may be aware of the manipulators' identities. This catastrophic decline followed a sharp vertical surge toward the $27 level before aggressive unwinding erased all liquidity. While the OKX founder offered a $25,000 bounty for information, Binance and Bitget continue to scrutinize suspicious wallet transactions linked to the scheme. Technical indicators confirm the project is effectively defunct following what investigators describe as blatant market manipulation.