SIREN Price Crash Wipes 78% After $3B Hype Turns Ugly
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BTCCSquare news:
SIREN's dramatic collapse from its all-time high of $4.60 to $1.00—a 78% plunge—has left traders reeling. The token's fleeting $3 billion market cap evaporated as warnings about supply concentration went unheeded.
On-chain analytics firm Bubblemaps sounded the alarm hours before the crash, revealing one entity controlled nearly 50% of SIREN's supply. At peak valuation, this cluster held $1.5 billion worth of tokens. "This only ends one way," the firm cautioned—a prophecy fulfilled within days.
Market observers had flagged the rally as a potential pump-and-dump scheme, with the setup appearing designed to create exit liquidity. Traders who positioned bearishly profited handsomely, while those ignoring the red faces now face steep losses.
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