Siren Token Plunges 70% Amid Concentrated Holdings Concerns

The Siren (SIREN) token on BNB Chain dropped nearly 70% on Tuesday, falling from $2.56 to a low of $0.79 before stabilizing around $1. The decline followed a sharp rally, with the token surging 1,300% over the past month and hitting $2.81 on Monday.

Analysts Flag Supply Concentration

Onchain analysts, including EmberCN and Bubblemaps, warned that a small cluster of wallets may control the majority of SIREN tokens, driving price volatility. EmberCN suggested that one entity might hold 644 million tokens, roughly 88% of the circulating supply, potentially to profit via derivatives. Bubblemaps’ data indicated that about 50% of the supply is concentrated in one entity’s wallets, totaling roughly $1 billion.

Liquidity Risks Highlighted

SIREN’s sudden drop underscores risks associated with thin liquidity and centralized token holdings. Bubblemaps noted that the token, launched in February 2025, had been largely inactive until recently, with purchases funneled through PancakeSwap into a few wallets. Analysts warn that such concentrated control could trigger sharp, sudden sell-offs, as observed on Tuesday.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss