ZachXBT Alleges $RAVE Token Pump and Dump Scheme
On-chain investigator ZachXBT has alleged a pump and dump scheme involving the $RAVE token, accusing insiders of controlling the majority of its total supply. These accusations follow a 10,383% price surge for $RAVE within a 30-day period. ZachXBT, known for his track record in uncovering numerous similar market manipulation schemes, traced alleged manipulative activities and specific transaction patterns across Bitget, Binance, and Gate, suggesting a coordinated effort. A $10,000 bounty has been offered for corroborating on-chain evidence.
Community Reaction
The allegations by ZachXBT resulted in a sentiment score of -56 among market participants regarding the $RAVE token's integrity.