Siren memecoin rallies 102% in a day, driven by whale accumulation and high trading volume.

Siren (SIREN) memecoin surged 102% in a day, reaching $1.7 after breaking out of a descending channel and hitting a local high of $2.26. This rally was fueled by large holders accumulating over 31 million tokens worth $64.67 million, coinciding with a 392% increase in trading volume and a market cap surpassing $1.29 billion. Despite increased volatility causing $6.4 million in liquidations in the futures market, technical indicators suggest continued upward momentum if whales keep buying. However, if these holders sell off again, the price could drop below $1 with $0.5 as critical support.