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How volatile has SIREN been in recent days, huh? That 174% pump that took the coin from $0.83 to $2.278 at its peak turned into a quick pump and dump. It dropped 88% and is now trading much lower.
What stands out most is the liquidation volume. In just 24 hours, $7.14 million were liquidated, with $3.75 million in longs and $3.40 million in shorts. In other words, both those betting on the rise and those betting on the fall took losses. This kind of sharp movement always results in a lot of position clearing.
Now SIREN is slowly recovering, trading near $0.71. This type of volatility is common in smaller altcoins, but it’s always risky. Many people probably jumped on the hype of the pump and exited in the red.