The core issue with the dust settling $RAVE is never about overselling, but about the complete collapse of the chip structure. Six related multi-signature wallets control 96.36% of the total supply, with a single address holding 76.94% of the tokens, leaving less than 4% of the chips available for retail circulation. This means that the entire market price is entirely dictated by these few addresses; the previous 6,000-fold increase was essentially driven by their self-promotion, with no fundamental support.

More importantly, the core team controlling the market has completely lost contact. ZachXBT exposed this scam during the pump phase, and the latest off-chain rumor is that the project's key members were taken away by the police at a celebration banquet in Hong Kong. Now, the controllers are no longer present; no one is maintaining the price, no one is defending the market, and all that remains are the chips they hold, being dumped regardless of the cost.

Signals from the contract side also confirm this: the basis has fully turned into deep backwardation, with futures prices 0.12 below spot. The large traders' long-short ratio has completed a 180-degree shift; all previous longs have been closed, and short positions now account for over 80%. This indicates that all major players are betting on the decline of this coin, and no one dares to take the other side anymore.

This means that the upcoming trend has no support. The short-term rebound is just retail buying the dip, and within 48 hours, the price will break below the 0.4 support level. Within a week, it will drop back to the starting point of 0.2, and ultimately fall below 0.1 because no one is defending the market anymore—only dumping remains. This game is already over.