SIREN falls 75% after whale sells 82% of supply

SIREN, a token on BNB Chain, plunged about 75% in 24 hours after its largest holder began a rapid sell-off that moved a large portion of the circulating supply onto exchanges. Blockchain records show the token fell from near $0.52 to around $0.126 on Saturday as the selling accelerated.

On-chain data indicate the top holder has received more than $7.5 million in USDT from sales and still controls about 595.7 million SIREN tokens, roughly 82% of the circulating supply. Several transfers exceeded $10 million, and substantial volumes were routed to centralized venues including Bitget, increasing sell pressure across spot and derivatives markets.

Liquidation trackers show approximately $2.4 million in long positions were liquidated across global exchanges during the decline. Twenty-four hour trading volume rose above $191 million as retail holders and traders exited positions.

At current prices SIREN trades near $0.126 with a market capitalization of about $94.7 million and a fully diluted valuation close to the same figure, based on a 1 billion maximum supply. The token ranks near 286 by market capitalization.

SIREN has recorded a pattern of sharp rallies followed by steep sell-offs this year. In recent sessions the token rose roughly 200% over about ten days, briefly adding more than $600 million in market value before concentrated wallet activity reversed the gains. On-chain monitoring has shown supply concentration in linked wallets at times above 90%.

Gate.io, KuCoin and decentralized exchanges on BNB Chain registered elevated activity as liquidity shifted to venues that could accept large sell orders. The dominant wallet’s remaining holdings and ongoing transfers will be visible in on-chain flows as selling continues to be executed.