Altcoin

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RaveDAO

While Bitcoin (BTC) and altcoins experienced a pullback due to the inconclusive outcome of US-Iran talks, one altcoin shook the market with a surge.
At this point, the altcoin RaveDAO (RAVE) topped the list of top-performing altcoins.
RAVE, which has seen a surge of over 200% in the last 24 hours, became the most-sold altcoin in approximately 12 hours.
Meanwhile, leading cryptocurrency data platform Coingecko announced today that RAVE, INX, and DOT are among the top trending altcoins of the day.
While RAVE has made a big splash in the market with its rise, there isn’t a single catalyst behind the sharp price surge in RAVE.
Factors driving the rise include events in Hong Kong, speculative whale buying, and intense buying pressure in the derivatives market.
However, on-chain analyst EmberCN noted that it has recently observed a tendency for projects to manipulate spot prices in the futures market to trigger liquidation transactions against retail investors.
At this point, EmberCN cited RaveDAO as an example of this manipulation, which has increased approximately 20-fold in the last three days, rising from $0.3 to $8.6 this morning.
EmberCN has identified price manipulation in RAVE’s recent massive price surge, suggesting that RAVE is employing a ‘confusion tactic’ during this rise.
EmberCN claims a whale is manipulating and driving up the spot price. Over the past three days, this whale transferred 30.58 million RAVE (worth $42 million) to Bitget to lure in short sellers. Then, over the last two days, they withdrew 31.94 million RAVE from Bitget to on-chain wallets, aggressively driving up the spot price of RAVE on platforms like Bitget.
Furthermore, according to Jeremy, co-founder of Glyde, a Solana-based decentralized perpetual futures exchange, two wallets accumulated RAVE tokens for months at prices below $0.50 before the token’s surge. In a post published on X, Jeremy stated that the two separate wallets quietly accumulated 10 million RAVE tokens each over several months and then deposited them onto the Bitget exchange shortly before the price peaked.
He questioned whether it was an insider transaction and emphasized that the timing was perfect. Jeremy RAVE’s comments coincided with a warning from analyst EmberCN, which highlighted a RAVE pattern where spot market prices were allegedly manipulated to trigger liquidations of retail investors in the futures market.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/attention-another-altcoin-manipulation-alert-huge-price-jump/" rel="noopener noreferrer nofollow">Attention: Another Altcoin Manipulation Alert! Huge Price Jump!</a>

Attention: Another Altcoin Manipulation Alert! Huge Price Jump!

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