Rave Token Crashes 95% As Manipulation Allegations Trigger Panic
Nearly $6 billion in market value vanished from Rave DAO
The 10,800% price run had squeezed out short sellers along the way, triggering over $40 million in forced liquidations. Short squeezes can push prices higher without any real buyer demand behind them. Once that pressure eased, the floor disappeared.
RaveDAO pushed back. The team issued a public statement saying it had no role in the recent price movement. Officials said token unlocks were sold to cover operating costs, which they described as standard practice. The statement did not address ZachXBT’s specific wallet claims.
1/ We are aware of the rumors and accusations circulating regarding $RAVE and RaveDAO team. We want to be clear: RaveDAO team is not engaged in, nor responsible for, recent price action. We take transparency seriously and remain humbled by the attention, but our focus is on the…
— RaveDAO (@RaveDAO) April 18, 2026
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Analysts Watch Key Price Levels For Signs Of Stability
With the dust still settling, some analysts pointed to the $1.00 to $1.20 range as a potential floor. A sustained hold above that zone could signal that the worst of the selling is over.
A move past $1.50 might indicate that forced sellers have largely exited. But the sheer volume of supply sitting above current prices makes any quick recovery difficult.
Featured image from Getty Images, chart from TradingView
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