RaveDAO hit an all-time high of $27.94 on Friday, up over 50% in 24 hours and with a market cap of $6.56 billion. The token has risen an extraordinary 18,308% from its all-time low of $0.14 set just four months ago in December 2025. At the time of writing, RAVE is trading at $26.48, pulling back slightly from its all-time high.
The immediate catalyst was a violent short squeeze. When RAVE broke above $20, it wiped out over $1 million in short positions in a single hour, a cascade of forced closures that added mechanical buying pressure on top of whatever organic demand existed. Open interest has now surpassed $500 million.
A KuCoin listing on April 17 added fuel by expanding accessibility and bringing in fresh spot buying pressure from a broader audience. The combination of a new exchange listing and a crowded short position produced the kind of move that the charts now show.
The Allegations Running Alongside the Rally
While the price was making headlines for all the right reasons, blockchain investigator ZachXBT was making headlines for very different ones.
Four days ago, ZachXBT alleged that insiders have control over 90% of RAVE’s supply and are manipulating the price on centralized exchanges. He sent a message to the RaveDAO co-founder seeking a response, but there has been no response yet.
(adsbygoogle = window.adsbygoogle || []).push({});The reaction across crypto communities shows the tension between the price action and the allegations. Some are riding the momentum. Others are pointing to the supply concentration as a reason to stay away regardless of the short-term moves.
One commenter questioned whether the team intended to push the fully diluted valuation toward $100 billion, calling RAVE the most overbought token in the market.
Related: RaveDAO Price Prediction: Why Did RAVE Surge 2500% In Ten Days?
