RAIN token faces manipulation claims as 81 wallets control nearly all supply

The RAIN token has faced growing scrutiny over its supply structure and trading activity. Critics claim that a small group of wallets controls nearly all of its circulating tokens, raising concerns about market manipulation. The debate centres on transparency and whether insiders have influenced the token’s price movement. Blockchain investigator ZachXBT highlighted issues with RAIN’s supply distribution. According to FabianoSolana, just 81 wallets hold almost the entire supply, giving the token a fully diluted valuation of $9 billion. ZachXBT also pointed to suspicious liquidity activity, noting that wallets linked to RAIN’s deployer were active in Uni V3 liquidity pools.

ZachXBT has previously flagged similar concerns with other tokens. Earlier, he accused the LAB token of supply control and manipulation. His latest warnings extend to RAIN’s connections with Enlivex and Gems.vip, both of which he described as questionable projects. Gems Launchpad reported that RAIN surged by 1,400% from its presale price to its all-time high. This dramatic rise has fuelled speculation about artificial price inflation. Despite the claims, Rain Protocol has not publicly addressed the allegations. No exchange or regulator has taken formal action against the token so far.

The controversy around RAIN remains unresolved, with no official response from its developers. The focus stays on the concentration of supply and potential market manipulation. For now, the token continues trading without intervention from exchanges or authorities.