The RaveDao Scams That Shocked Me Recently

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I often try some perpetual trading on Binance, and recently my portfolio doubled in around 1 month, then the shit hit the fan, and my single trade wiped out a lot of my profit. But it was a good lesson that I want to share with you. The most shocking thing is that this coin went from a price of $0.2 to $19 within a week, with an increase of more than 7000%, which is really abnormal in my observation. I know you can say it is a normal scenario in crypto but have you ever seen a scenario where a coin gains 300% and the next day again 300%, then next two days again more than 200% and 150%, and today, after touching 14 bucks yesterday, it increases another 40% to touch 19 bucks, which is really crazy. The crazy things that shocked the overall trend are pointed out in the following points that I did not expect to be such behavior from such a shit project.

• The 99.42% of the total supply is accumulated by the top 10 token holders, which is a pure scam coin with an industry-level manipulated project, and the market is completely controlled by those whales. But consequently, the surging volume of 4B in the Binance perpetual, making it the top 3 for consecutive days, is insane for such a shit project!

• I quit relatively early in the massive surge after a big loss, but the bleeding factor of this RAVEUSDT is the Funding fee, which was often -2% every hour, which is the main earning for these long funds by these whales, which is a clear sign of the manipulation! Can you imagine that if you have a trade with 100 bucks with 10X leverage, then for your 1000 bucks position, you have to pay 20 bucks every hour to the long position holders!

RaveDAO is a global community uniting music, technology, and purpose. Since their first sold-out event at Dubai 2024, they have expanded across Europe, the Middle East, North America, and Asia, hosting world-class experiences with over 100,000 total attendees and 3,000+ attendees for each event. RaveDAO has worked with top-tier artists like Vintage Culture, Don Diablo, Chris Avantgarde, Lilly Palmer, MORTEN, Bassjackers, and GENESI and has support from Binance, OKX, Bitget, and Polygon. RaveDAO is redefining live entertainment in Web3 and has active partnerships with 1001Tracklists, AMF, and Warner Music. Beyond the dance floor, RaveDAO channels energy and attention toward impact. In 2025 alone, proceeds from its events helped restore sight to 400+ cataract patients in Nepal and fund over 150 meditation programs across the U.S.-source

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I left the toxic space around 11 bucks, and today I found it touches 19 bucks, and it is a parabolic pulse! I was on the wrong side, as I gained more with such a strategy, and it is very common for 9.99% scams coins that come to the market and die soon after such an insane level of pulse!

So, it is very important to focus strictly on the risk management of the portfolio. Interestingly, the RaveDao is at 21st position in the CoinMarket list, and I had a short order with the price around $19.8, hopefully it touches and then the dump season starts as the whales should book profit otherwise they will not get the chance later!

If you have any questions, you can ask me, but please no technical questions as I am not a pro trader by any means or expert in TA or DCA. I can only answer about my experience and thought on my move.
Have a nice day!