Little-known token ranks alongside bitcoin and ether in the top three — just not in the way you think

What Happened

RaveDAO's RAVE token ranks third in cryptocurrency liquidations behind Bitcoin and Ether, with $44 million liquidated in 24 hours. The token surged 4,500% in seven days, reaching $2.8 billion market cap from $60 million. Over $32 million were short liquidations. Observers allege team members transferred tokens to exchanges to trigger a short squeeze. Nearly 90% of RAVE's supply is held by three wallets, creating liquidity concerns and manipulation risks.

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