RaveDAO (RAVE) has experienced a dramatic price collapse, plunging 24.5% in the past 24 hours to $0.481976, according to latest market data updated February 23, 2026.
The entertainment-focused decentralized autonomous organization token saw its market capitalization contract by $26.6 million (-17.7%) to $123.3 million, currently ranking #235 among cryptocurrencies by market cap.
Steep Hourly Decline Signals Accelerating Sell-Off
The selling pressure intensified in recent hours, with RAVE dropping an additional 25.4% in the past hour alone. This acceleration suggests continued bearish momentum as traders exit positions rapidly.
Trading volume surged to $73.9 million over the 24-hour period, representing approximately 60% of RaveDAO’s total market capitalization. This abnormally high volume-to-market-cap ratio typically indicates panic selling or forced liquidations.
Price Action and Technical Levels
RAVE reached an intraday high of $0.716050 before collapsing to a low of $0.490118. The token is now trading just above its 24-hour low, suggesting limited buying support at current levels.
The current price sits 18.1% below RaveDAO’s all-time high of $0.767683, reached on December 21, 2025. However, RAVE remains 177.9% above its all-time low of $0.226171 recorded on December 12, 2025.
Supply Dynamics
With 239.17 million RAVE tokens in circulation from a total supply of 1 billion, the fully diluted valuation stands at $515.7 million. This represents significant dilution potential, with approximately 76% of tokens yet to enter circulation.
Recent Performance Context
Despite today’s sharp decline, RaveDAO has posted gains of 26.6% over the past week and 44.4% over the past month, suggesting the token had experienced a strong rally before this correction.
Market Implications
The simultaneous price crash and volume spike indicate possible large holder liquidations or negative news catalysts affecting investor sentiment. Traders should exercise caution as volatility remains elevated.
The entertainment and DAO sectors have faced increased scrutiny recently, which may be contributing to broader selling pressure across similar projects.
This is a developing story. Price data current as of 08:37 UTC, February 23, 2026.
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About the Author: Ananya Melhotra
