RAVE Token Plummets 90%, Exchanges Investigate Potential Market Manipulation

The cryptocurrency market has been sent into a whirlwind as the RAVE token experienced a staggering 90% decline in value within a single day. This dramatic price swing has triggered exchanges to initiate investigations into potential market manipulation, sparking concerns about on-chain fund flows and team wallets.

According to reports, Binance and Bitget have begun conducting checks related to RAVE trading activity, with the goal of determining whether intentional price movement was involved. As exchanges delve deeper into the situation, interest has grown in understanding the dynamics at play.

The market is focusing on the token distribution structure, specifically the fact that a significant portion of the total supply – approximately 90% of the 1 billion tokens – was concentrated in three multisignature wallets linked to the team. Additionally, signs indicate that several million tokens were moved to exchanges just prior to the price spike, fueling speculation about intentional price manipulation.