SIREN memecoin jumps 50%, reclaims $1 amid short squeeze and AI coin interest surge

SIREN memecoin surged 50% in 24 hours, reclaiming the $1 price level for the first time since April 17, driven by a short squeeze that liquidated $1.56 million in shorts on Binance. The rally was also supported by renewed investor interest in AI-themed memecoins, boosting SIREN's trading volume by 638% to over $54 million. However, risks remain as over 95% of SIREN's supply is controlled by a few addresses, raising concerns about price manipulation and the sustainability of the rally. The price must hold above $0.85 to maintain momentum, but the surge could be a temporary pump leading to potential losses for traders.