This little-known token just posted a 6,000% rally — and traders are trying to figure out why

What Happened

RAVE, RaveDAO's native token, surged over 6,000% in one month, reaching top 50 cryptocurrencies. The token jumped from $0.25 to $14 in seven days. RaveDAO claims to be a Web3 music protocol with partnerships and reported revenue. However, blockchain analysis shows 90% of supply held by three wallets, with 98% concentration in top ten wallets. Before the rally, project-linked wallets transferred millions to exchanges. A heavily short-positioned market triggered liquidations, amplifying prices.

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