RAVE Token Just Lost 95% in One Day. Here Is What Happened.




On April 18, 2026, a crypto token called RAVE fell from roughly $26 down to around $1. That is a 95% collapse in under 24 hours. Behind it is a story involving nine wallet addresses, three major exchanges, a $25,000 bounty, and a project whose co-founder never responded when contacted before everything fell apart publicly.

On-chain investigator ZachXBT published a detailed breakdown on X identifying nine wallet addresses he connected to the initial RAVE token distribution. Combined, those addresses hold close to 95% of the token's total supply. RAVE launched in December 2025 on Binance Alpha with a 1 billion token total supply and within ten days of its all-time high had briefly ranked inside the global top 15 by market cap.

ZachXBT also pointed to a specific data point from CoinGlass: $6 billion in market cap was erased on just $52 million in 24-hour liquidations. That ratio is the number he says tells you everything. It does not happen in an organic market.

He reached out to RaveDAO co-founder Yemu Xu on April 13 and 14. No answer came. So on April 18 at 7:26 am UTC, he posted publicly, offering first $10,000 and later raising it to $25,000 for anyone providing real, verifiable evidence of who is responsible.

Bitget CEO Gracy Chen was the first to respond. Binance co-CEO Richard Teng followed. Gate acknowledged the post hours later. All three exchanges confirmed they had opened reviews into RAVE trading activity.

RaveDAO denied involvement, saying the team had no part in what happened to the price and that any token sales from unlocked supply would follow a publicly stated schedule.

ZachXBT confirmed he held no position in RAVE. He also said RAVE is not a one-off situation, naming SIREN, MYX, COAI, M, PIPPIN, and RIVER as other tokens with suspicious price behavior on major exchanges.

The full breakdown of the timeline, the wallet addresses, the exchange responses, and the broader pattern ZachXBT is documenting is covered in detail over at CryptoNewsLive.org. If you are tracking manipulation cases across centralized exchanges, that is where the full story is.

Visit CryptoNewsLive.org for the complete report.

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