Siren Token will shed 70% of the supply structure according to analysts’ request
The Siren (SIREN) token fell nearly 70% on Tuesday, with OnChain analysts warning that a small cluster of wallets could control a large supply of the token.
According to CoinGecko, the token has fallen nearly 70% from its early Tuesday high of $2.56 to a low of $0.79. At the time of writing, Siren hovered around $1.
The sale follows a high run in SIREN, the BNB Chain token marketed as an AI analytics agent. Bubblemaps analysts and anonymous researcher EmberCN said on Monday that wallet data indicates that the token's holdings are very strong.
While the relationship between the claims and the price movement is unclear, the volatility reflects concerns related to thin liquidity and accumulated holdings.
Siren's 70% fall follows wallet attention warnings
SIREN rose to $2.81 on Monday, up 340% from $0.63 on March 16. CoinGecko data shows that in the past month, the token has risen from $0.22 to nearly 1,300%.
On Monday, an anonymous onchain analyst, EmberCN, warned traders that the token's rise was due to the party reducing almost all spot supply to profit from the contracts.
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Citing an unverified custom entity created by Arkham Intelligence, EmberCN pointed out that a single entity had 644 million SIRENs, worth about $1.8 billion at the time. This amount accounts for 88% of the total circulating supply of 728 million tokens.
On Tuesday, blockchain analytics company Bubblemaps shared a visualization of the wallets around Siren. According to the company, one party controls 50 percent of the tokens' circulation, which is worth about $1 billion.
According to Bubblemaps, Siren is “virtually abandoned” after launching in February 2025. According to the company, more than 200 wallets were funded by Pancake Swap and bought the token in two groups before dispersing it to 47 wallets.
“This can only end one way,” writes Bubblemaps, which means that if one party controls the supply, a massive sales process can follow.
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