RAVE (RaveDAO) increased by 17.61% in the last 24 hours

Gate News Bot Message, December 25th, according to CoinMarketCap market data, as of press time, RAVE (RaveDAO) is currently priced at $0.61, up 17.61% in the past 24 hours, with a high of $0.77 and a low of $0.36. The 24-hour trading volume reached $66.3 million. The current market cap is approximately $140 million, an increase of $21 million from yesterday.

RaveDAO is a global movement centered around music enthusiasts, serial entrepreneurs, builders, and early crypto adopters, dedicated to bringing millions of electronic dance music fans into the crypto world. The project was launched during November 2023 at a crypto conference with a 200-person party, and has since grown into large events attracting an average of 3,000 participants. Each participant receives a participation proof NFT, and 20% of the event proceeds are donated to charities selected by the community. RaveDAO advocates peace, love, unity, and respect, aiming to create a positive impact through the combination of music and crypto.

Important Recent News about RAVE:

1️⃣ Trading Pair Expansion and Diversified Trading Features Drive Liquidity Growth

The Gate platform has launched RAVE perpetual contract trading, flash swap trading, and Gate Perp DEX trading, supporting 1-20x leverage and one-click exchange of over 2,200 crypto assets. The introduction of diversified trading pairs significantly expands market participation channels, reduces trading costs, and enhances capital liquidity. Additionally, Aster Rocket Launch has exclusively launched the RAVE/USD1 trading pair and set aside $200,000 in ASTER rewards, further enriching the trading ecosystem and providing infrastructure support for token price appreciation. These multi-dimensional liquidity improvements substantially lower entry and exit costs for market participants, helping to attract more incremental funds.

2️⃣ Institutional-Grade Buyers Accumulate Positions Intensively and Large On-Chain Trades Are Active

Recent large buy-in behaviors indicate a significant increase in institutional investors’ confidence in the project’s prospects. One whale address purchased 1.65 million RAVE tokens with 539.6 BNB (about $47,600), with unrealized gains of $950,000; two new wallets withdrew 300,000 USDT from exchanges specifically for RAVE purchases. Early traders bought 553,000 RAVE at a cost of $0.22 and sold all at $0.4, earning $100,000 profit (83% return). These large transactions and early investors taking profits reflect rising market enthusiasm. The increased on-chain trading activity further boosts token liquidity and market attention. Meanwhile, the continuous growth in the number of new holders indicates retail participation is also expanding, suggesting a broad market foundation.

3️⃣ Post-Launch Correction Phase Completed and Technicals Repaired

RAVE officially launched on December 14th, with an initial price of about $0.50, followed by a typical “launch correction,” with the price dropping to as low as $0.27. The price then quickly rebounded back to around $0.50, showing strong support at the low. From a technical perspective, the price has recovered from the double bottom pattern after launch and regained key support levels, with bulls still dominating in the short term. Open interest (OI) has exceeded $17 million, indicating increasing derivatives market participation. Changes in OI direction are often seen as signs that the correction has ended. The liquidation heatmap shows more concentrated short liquidations above, suggesting that if the price continues upward, short squeezes may be triggered, amplifying short-term gains.

This message is not investment advice; please be aware of market volatility risks.