RAVE Throws a Party at $14, Short Sellers Left Holding the Tab

RaveDAO's RAVE decided to speedrun the charts lately, zooming from sub-$1 territory to the $9.50 neighborhood faster than a degen clicking "max leverage" on a fresh meme coin. Inflows came in hot and buying pressure refused to take a hint, but volatility crashed the gathering like that friend who spills drinks on everyone. Profit-taking started peeking through the curtains, and RSI lounging near 88 basically screamed that this party was getting way too crowded.

The journey from roughly $3 to $9.6 wasn't exactly a scenic route—more like a demolition derby through liquidity pools. Price muscled through clusters at $5.8–$6.2 and $6.5–$7.0, sweeping up hapless shorts who thought they'd found a floor. Another thick cluster near $7.5–$8.0 launched the move into orbit. CoinGlass data revealed $43.75 million in liquidations over 24 hours, with shorts getting absolutely wrecked to the tune of $32.14 million—leverage really put in the overtime work here.

After RAVE hit $14.97 and flexed on the entire orderbook, it pulled back to $11–$12 as early birds cashed out their congrats while newcomers stepped up to grab the baton. Open Interest surged 10.64% in 24 hours—capital wasn't fleeing the scene, just reshuffling chairs with leveraged exposure like someone rearranging deck chairs on the Titanic, but make it profitable.

A bearish candle formed near the highs faster than FTX customer support ever responded, pushing price toward $8–$9—a liquidity reset rather than a full reversal. Buyers swooped back in, reclaimed $10, and stabilized near $11.48. CMF sitting at 0.14 confirmed the inflows haven't ghosted yet, though buying pressure is starting to catch its breath.

Holding above $10 keeps $12–$14 on the menu; rejection opens downside toward $8. With only 24–25% of supply actually circulating, absorption keeps structural pressure pointed skyward. If FOMO and leverage keep grinding, $14.97 gets a second date with $16–$18 potentially in view. But if leveraged positions pile up too thick and start unwinding, thin liquidity could send this thing tumbling to $9–$10, ratcheting up the volatility for everyone still holding the line.