PROVED
This has been solved in the affirmative.
There is a function $f:(1/2,\infty)\to \mathbb{R}$ such that $f(c)\to 0$ as $c\to 1/2$ and $f(c)\to 1$ as $c\to \infty$ and every random graph with $n$ vertices and $cn$ edges has (with high probability) a path of length at least $f(c)n$.
This was proved by Ajtai, Komlós, and Szemerédi
[AKS81].
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