![\"RaveDAO](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDQvMDE5ZGE0OTUtNGVlYy03ODEzLWI5M2YtMDA2Y2JkYzcyNmViLmpwZw==.jpg\")
<\/p>\n<\/p>\n
RaveDAO denies involvement in RAVE token price surge and crash as Binance and Bitget launch investigations into suspected market manipulation.<\/p>\n
RaveDAO has denied any role in the recent surge and sharp collapse of its RAVE token, as major crypto exchanges open probes into trading activity following allegations of market manipulation.<\/p>\n
In a thread posted<\/a> on X, the project said it was \u201cnot engaged in, nor responsible for, recent price action,\u201d responding to mounting scrutiny after RAVE soared from roughly $0.25 to nearly $28 within days before plunging more than 80%.<\/p>\n The denial comes as onchain investigator ZachXBT accused<\/a> the project of orchestrating a pump-and-dump scheme, pointing to concentrated token holdings and suspicious exchange flows. He claimed that more than 90% of the token supply may be controlled by insiders, calling on exchanges to take action.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n