The token traded at $1.15 on Sunday, down from a $27.33 peak on Friday, wiping out more than $5 billion in market cap while Binance and Bitget investigations advance. RaveDAO's RAVE token plunged about 90% in 24 hours, erasing roughly $5.7 billion in market value after Binance and Bitget opened investigations into its meteoric rally. Onchain sleuth ZachXBT alleged that about 90% of RAVE's 1 billion supply sat in three team-linked wallets and that large transfers to exchanges preceded…
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