Just caught up on what happened with RAVE and wow, this is exactly the kind of pump and dump crypto scheme we need to watch out for. The token went from $0.25 to $28 in like nine days, then crashed 95% just as fast. Insane volatility.

So basically, chain analyst ZachXBT flagged that insiders were running the show on this one. The data showed 90% of tokens held by team members, and they were moving massive volumes in and out of exchanges to trigger liquidations. Over $30M got liquidated in 24 hours alone. Major exchanges launched investigations after the allegations surfaced.

What's wild is how this pump and dump crypto play unfolded in real time. Everyone saw the hype, FOMO'd in, then it all collapsed when the heavy selling started. The token's now trading around $1.15, down from that $28 peak. This is honestly a textbook example of why you gotta be careful with low-liquidity tokens during rapid rallies.

The whole situation just shows how fast these hype-driven moves can turn into disasters. One day you're looking at top 20 market cap status, next day you're down 95% and watching investigations roll out. Definitely a reminder to check the fundamentals and token distribution before jumping into any pump and dump crypto plays.