The RAIN token surged 20% in 24 hours, reaching a new all-time high near $0.02 before retreating to approximately $0.0176. Its market capitalization has risen to around $12.5 billion, making it the 13th-largest digital asset. The primary catalyst for this uptrend was the team’s decision to burn $108 million worth of tokens, as requested by the community during the first DAO governance vote. The recent addition of the token on HyperliquidX and the upcoming V2 launch with a $100 million commitment also contributed to the momentum. Several analysts remain cautious, however, as the top 10 addresses control nearly 90% of the supply, a concentration level that increases the risk of price manipulation.
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