RAVE initially allocated 23 million tokens to a multi-signature address linked to Bitget, after which the price dropped by 40%.

CoinFeed reported on April 20th that, according to crypto detective ZachXBT, three hours ago, the multi-signature address 0x53d7, previously mentioned as being associated with the initial RAVE distribution, sent approximately 23 million RAVE tokens (worth $23 million) to two Bitget deposit addresses. Subsequently, the price of RAVE dropped 40% from $1 to $0.60. Previously, ZachXBT accused RAVE tokens of "pump and dump" and claimed the source was suspected to be three centralized exchanges (CEXs), offering a $25,000 reward for clues. ZachXBT also listed a set of addresses, claiming that these addresses associated with the initial distribution controlled approximately 95% of the RAVE supply.