RaveDAO (RAVE) has posted a dramatic 20.5% surge in the past 24 hours, reaching $0.685003 as of 22:07 UTC on February 21, 2026, with trading volume spiking to $60.3 million.
The governance token’s intraday price ranged from a low of $0.548885 to a high of $0.689015, representing a trading range of 25.5%. The sharp upward movement comes as RAVE extends what has become one of the most impressive rallies in the crypto market over the past month.
Market Performance Metrics
RaveDAO’s market capitalization has climbed to $160.7 million, placing it at rank #204 among all cryptocurrencies. The market cap increased by $26 million in 24 hours, a gain of 19.3%. This follows an exceptional 30-day performance that has seen RAVE appreciate 123.5%, more than doubling in value.
The 7-day performance is equally impressive, with RAVE up 81.4% over the past week. Even in the last hour, the token has maintained momentum with a 1.1% gain, suggesting sustained buying pressure.
Trading volume of $60.3 million represents approximately 37.5% of the token’s total market capitalization, indicating significant market interest and liquidity for this mid-cap asset.
Supply and Valuation
With 234.7 million RAVE tokens in circulation out of a maximum supply of 1 billion, approximately 23.5% of total tokens are currently in circulation. The fully diluted valuation stands at $684.4 million, suggesting substantial upside potential if the token maintains current price levels as more supply enters the market.
Historical Context
While RAVE has experienced explosive growth recently, the token remains 10.8% below its all-time high of $0.767683 reached on December 21, 2025. However, it trades 202.6% above its all-time low of $0.226171 set on December 12, 2025, just days before the ATH.
The dramatic recovery from December lows, followed by sustained gains through January and February 2026, has established RaveDAO as one of the top-performing tokens in the DAO governance sector.
What This Means for Traders
The combination of high trading volume, sustained price momentum across multiple timeframes, and relatively low circulating supply creates a volatile trading environment. The token’s ability to maintain gains above $0.68 in the coming sessions will be critical for confirming bullish momentum. However, traders should note the substantial gap between current price and fully diluted valuation, which could create downward pressure as tokens vest.
This is a developing story. Market conditions can change rapidly. Data current as of February 21, 2026, 22:07 UTC.
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About the Author: Ananya Melhotra
