Balina RaveDAO Purchase Doubled Its Price

Whale purchases in the cryptocurrency market can lead to notable price movements. The recent development in RaveDAO (RAVE) has captured investors' attention, as it resulted in an almost 100% profit within just 8 hours.

According to on-chain data provided by Lookonchain, a whale with the address 0x2ee6 purchased approximately 1.65 million RAVE by spending around 539.6 BNB. At the time of the purchase, the total value of the transaction was about 476,000 dollars. Following the purchase, the sharp rise in the RAVE price within just 8 hours increased the position value of the whale to around 950,000 dollars. Thus, the mentioned address had already realized an unrealized profit of over 474,000 dollars before making any sales.

Market data shows that RaveDAO has recorded an increase of over 114% in the last 24 hours. RAVE reached levels as high as 0.0005772 BNB against BNB, with the intraday price range occurring between 0.0002549 BNB and 0.0007247 BNB. The performance of RAVE against Bitcoin (BTC) and Ethereum (ETH) is also remarkable. According to the data, RAVE has gained approximately 120% against BTC and 124% against ETH.

Analysts emphasize that such sudden increases are often triggered by whale purchases, while advising investors to proceed with caution due to high volatility. Whether the price movement in RAVE will continue in the coming days is closely related to whale behaviors and trading volume.