“Selling Non-Stop” — RAVE Dumps $34.97M, More Incoming?

A major wave of selling has hit RAVE, raising fresh concerns across the market. On-chain data shows a wallet linked to possible manipulation. That has moved over $34.9 million worth of tokens to exchanges in just one day.

卖个不停！ $RAVE 操纵地址再次向Bitget充值2000万枚RAVE，价值1067万美元

据链上分析师Ai姨监测，RAVE操纵地址之一0xe07…B690b在十分钟前再次向Bitget充值2000万枚RAVE，价值1067万美元。

今天已累计向中心化交易所转移4299.6万枚RAVE，总价值超过3497万美元。 https://t.co/OP1gMrnaPc pic.twitter.com/gTV2gUSKkm

— PANews丨APP全面升级 (@PANews) April 20, 2026

The transfers were tracked by analysts and quickly spread across the crypto community. As a result, many traders now fear that more selling could follow.

Large Transfers Trigger Sell-Off Fears

The latest move involved 20 million RAVE tokens sent to Bitget, worth about $10.6 million. This came just minutes after earlier deposits. In total, nearly 43 million tokens have been moved to centralized exchanges. Such large transfers often signal selling intent. When tokens move to exchanges, they become easier to sell quickly. Because of this, traders are now watching closely. The pace of these transfers also adds pressure. Multiple deposits in a short time suggest ongoing activity, not a one-time move.

Crash Follows Massive Price Surge

The situation comes after a dramatic rise and fall. RAVE surged more than 5,000% in a short period. Its price jumped from around $0.25 to $28 in just days. But the rally did not last. The token then crashed by over 95%, wiping out billions in market value. At one point, its market cap dropped from $6.6 billion to just over $100 million. This sharp reversal shocked many investors. It also triggered heavy liquidations across the market.

Manipulation Claims Add More Pressure

The story has taken a serious turn with allegations of insider activity. On-chain investigators claim that a small group may have controlled a large portion of the supply. According to reports, these wallets could have coordinated the price surge. Then, they may have sold into the hype. This type of pattern is often called a pump-and-dump. 

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

Major exchanges like Binance and Bitget are now reviewing the situation. They are looking into possible market manipulation. While RaveDAO has denied any wrongdoing. The team says it is not responsible for the recent price action. But concerns remain in the market.

What Happens Next for RAVE

Right now, uncertainty is high. Continued selling could push prices even lower. Traders are watching wallet activity for signs of more deposits. While exchange investigations may bring more clarity. If manipulation is confirmed, it could lead to further action. For investors, this situation highlights the risks of fast moving tokens. Sharp gains can quickly turn into steep losses. For now, the focus stays on one key question. Is this selling wave over, or is more still coming? Until that answer becomes clear, caution will likely remain across the RAVE market.