Selling pressure on the RaveDAO (RAVE) token in the cryptocurrency market has intensified with a notable development. According to information shared by the on-chain data platform Arkham Intelligence, a large wallet address linked to RaveDAO transferred approximately $23 million worth of RAVE tokens to the Bitget spot market.
Following the transfer, the price of RAVE experienced a sharp decline in a short period. According to the data, the token lost approximately 30% of its value in the spot market, triggering panic selling among investors.
This development has further fueled the manipulation allegations surrounding the RAVE token, which have been circulating in recent days.
*This is not investment advice.
