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Siren Token plummeted 75% to $0.126 due to whale sell-offs

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CryptoWorld News reports, citing an on-chain analyst, that the Siren token’s price plunged by approximately 75% after a large holder dumped 17 million tokens. The current trading price is $0.126. The analyst noted that this whale sold about 17 million Siren tokens within a two-hour period on June 13 across multiple addresses, including 6.75 million Siren2 native tokens. The selling pressure caused the token price to fall from around $0.47 to $0.23, and it then declined further. Market data shows that the Siren token’s price has dropped to $0.126 at the time of writing. On-chain analyst Yu Yan also claims that the whale-controlled wallet holds at least 94% of the total Siren supply, which is equivalent to about 680 million tokens. The analyst believes that concentrated holdings allow a small number of holders to exert a significant impact on the token’s price fluctuations. Although spot markets absorbed the sell-off, derivatives traders quickly reduced their risk exposure; data shows that open interest fell by nearly 40% during the decline, dropping to $28 million.
SIREN-71.87%
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BribeCoffee
· 2h ago
The address that the remaining embers are watching is worth tracking next; rebounds in such highly manipulated coins are often used to lure longs.
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ContractsMustNotLie.
· 3h ago
A 40% drop in open interest indicates that even contract traders are confused and shaken out. Who still dares to go long now?
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GateUser-517aed04
· 3h ago
Cut in half again after two hours—Siren’s liquidity depth is roughly as good as nonexistent; retail investors go in and effectively get it for free.
View OriginalReply0
MosaicBow
· 3h ago
94% market control and you still dare to play spot trading—this whale is the market maker itself; after smashing it picks up the chips and runs the cycle to harvest again.
View OriginalReply0

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