Memecoin SIREN crashes 97%, market cap falls to $40.78M amid pump-and-dump allegations

SIREN memecoin plunged over 55% in 24 hours, dropping from $1.30 to $0.05 and losing 97% of its market value, now at $40.78 million. On-chain data revealed a wallet sold 95% of the supply, suggesting a pump-and-dump scheme that caused the crash. Despite the sell-off, liquidity and trading activity persist, leaving open the possibility of a rebound if buying interest returns. However, continued manipulation or liquidity withdrawal could keep SIREN under pressure and reduce its market relevance.