📈 RAVE and SIREN extend gains amid market manipulation warnings

Rave DAO and Siren were among the day’s winners, once again showing that tokens were a major target for rallies. Both tokens received warnings of potential market manipulation.

Rave DAO (RAVE) and Siren (SIREN) both traded near all-time highs after another upward leg of record rallies. The tokens have sustained that pace in the past week, sparking suggestions of an organized pump. Tokens with this type of price action often require significant efforts from market makers and coordinated trades that may benefit insiders.

RAVE peaked at new records just below $19, though with short-term volatility. The token also caused a mix of long and short liquidations after a brief dip to the $10 range in the past day.

🔸 RAVE exposes traders to liquidation risk for both long and short positions

The token’s performance showed increased risk for liquidations and extreme risk on the spot market. The biggest flaw of RAVE is that most of the supply is still controlled by the team, and may be sold at any time. Despite this, betting on the end of the RAVE rally has proven risky.

RAVE may repeat the performance of SIREN, which had several vertical rallies in the past months. SIREN peaked at $2.36 in March and is back with a new rally as high as $1.73.

Despite the volatile trading, tokens like RAVE remain popular. Crypto traders can still benefit from large directional moves. RAVE, SIREN, and other tokens have liquid futures markets, as well as spot trading, and have shown they will not end in a rug pull. In some ways, those tokens behave similarly to meme tokens, but are comparatively more reliable, as the projects aim for a much longer run.

As a result, a handful of selected tokens will outperform the altcoin market, offering extreme risk, but also enough liquidity to lock in gains.

‍#RAVE | #SIREN | $RAVE | $SIREN