RAVE, the native token of RaveDAO, has experienced an extraordinary surge of more than 6,000% over the past month, briefly placing it among the top 50 cryptocurrencies by market capitalization. The token's price skyrocketed from around $0.25 to above $14 within just seven days, drawing significant attention from traders and social media. RaveDAO promotes itself as a Web3 music protocol that integrates electronic dance music (EDM) culture with blockchain technology, offering features such as on-chain ticketing and crypto payments at live events. However, blockchain data reveals that approximately 90% of RAVE’s total supply is concentrated in just three wallets, leading to concerns about liquidity and market manipulation. The rapid price increase was exacerbated by a heavily shorted market, resulting in a short squeeze that forced liquidations of millions in short positions. Analysts warn that this price movement may reflect speculative excess rather than genuine market demand, highlighting ongoing vulnerabilities within the crypto sector.