RaveDAO is a Web3 music/entertainment protocol linking EDM culture with blockchain — on-chain ticketing, crypto payments at live events, and staking tied to rave revenues. Since Dubai 2024, they've expanded across Europe, Middle East, North America, and Asia with 100,000+ total attendees. Partners include Binance, OKX, Bitget, and Polygon.
Why it matters for shorting: ~90% of supply held in 3 wallets, 99%+ in top 10. Token launched at ~$0.25 and pumped to $19.54 ATH in days. Multiple on-chain analysts flag it as an engineered short squeeze — team wallets moved $40M to exchanges at peak, creating squeeze conditions. Negative funding rates mean shorts are paying longs ~1%/hour at extremes. Token unlock cliff hits Q4 2026 with 76% of supply still locked.