Siren Memecoin Explodes 1140% in One Month, Cracks Top 45: What’s Driving the Frenzy?

A sharp 10% correction in Siren (SIREN) on Monday served as a stark warning to euphoric investors, following the memecoin's parabolic 1140% surge over the past month. The token, which had just shattered its all-time high at $3.61, now faces volatility after its meteoric rise catapulted it into the top 45 cryptocurrencies by market capitalization.

Why Is SIREN Hitting New All-Time Highs, And Can It Continue Rallying?

SIREN is an AI-based Defi project on the BNB chain. The asset’s upswing over the last few weeks could be due to an increase in demand for AI-based assets. Moreover, the launch of perpetual futures may have further boosted investor sentiment. According to CoinGlass data, open interest for SIREN has been gradually surging since February of this year.

However, there have been some accusations of increased bot activity in the past. According to Nansen, SIREN saw big bot participation in February which led to a price spike. It is unclear if the current upswing is also supported by increased bot activity.

Moreover, the larger crypto market is still in bear territory and SIREN’s rally is rather anomalous. Bitcoin (BTC) recently faced a rejection at the $75,000 price level, and most other crypto assets are following BTC’s trajectory. While SIREN may see a rally over the coming days, but the asset will most likely face a steep price correction soon. Investors may book profits and move their funds to safer assets.

CoinCodex analysts are also not bullish on SIREN. The platform anticipates the asset to face a correction over the coming days, falling to $1.58 on April 1, 2026. Dipping to $1.58 from current price levels will entail a correction of about 42.34%.