On-chain investigator ZachXBT has flagged six tokens he says show the same warning signs that RaveDAO (RAVE) flashed before its 95% crash.
ZachXBT Names Six Suspect Tokens
In a thread posted to X, the pseudonymous sleuth listed SIREN, MYX, COAI, MemeCore (M), PIPPIN and RIVER as projects with "highly questionable price action."
RAVE had rallied from roughly $0.25 in early April to about $26, briefly entering the top 15 by market cap, before falling to near $1 within a day.
ZachXBT said addresses tied to the initial distribution controlled about 95% of supply. Binance, Bitget and Gate each acknowledged his call for an investigation, and he raised a bounty to $25,000 for actionable information.
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Shared Red Flags Across Tokens
Analysts say the six tokens share structural issues rather than a single trading pattern. SIREN showed extreme supply concentration, with one cluster of 47 wallets holding roughly half the supply, according to findings cited by ZachXBT.
COAI's proxy contract ownership was not renounced. RIVER carries a low circulating-supply profile. PIPPIN unwound in a derivatives liquidation cascade, while MYX drew scrutiny over extreme funding rates.
ZachXBT also challenged MemeCore to justify its roughly $6 billion market cap against just $66 million in app volume, arguing insiders hold more than 90% of supply.
RAVE launched on Binance Alpha in December 2025 with a one billion token supply. It spent weeks in obscurity before the April rally pushed its fully diluted value past $20 billion, then collapsed within 48 hours and erased billions in paper wealth.
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